Economics Homework Help

 

Politicians have a strong incentive to follow a strategy that will enhance their chances of getting elected and re-elected.  Political competition more or less forces them to focus on how their actions influence their support among voters and political contributors.

Are voters likely to be well informed on issues and the positions of candidates?  Why or why not?

Review concepts like shortsightedness and rent seeking.  What are the effects of government intervention in markets with some of the price regulations like price floors and price ceilings we discussed in chapter 4?

 

Keiona Hill 

 
Voters who are not part of any interest groups or has no means to influence descisions of candidates are more likely to be un informed on issues and positions of the candidates. This would be one way because of the role money plays in election campaigns.
Government intervention has positive effects like the equitable distrubution of wealth, prevention of    market failures like monopoly power, free rider problem, or large scale poverty. Government intervention ensures the redistribution of goods in favor of the poor.

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Mitchell Peck 

 

In American most of our politicians serve short terms that require them to show some progress with their policies to get re-elected. A little deception or trick that politicians then use to “buy” their next term is to give their constituents favors or what they want. These favors are often made with the plan only as far as the next election and not on the their future effects. In the case of a lot of social programs you see politicians promise more and more without the consideration of how it’ll affect everyone in the future. This is shortsightedness. Some of this Favors I mentioned are called rent seeking as well. The definition is an economic concept that occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity but in simpler terms it is a organization or person who gets some form of aid but in turn doesn’t add anything to the economy. Examples of rent seeking are subsidies, grants, social welfare, and tariff protection. These can be a negative influence on the economy if they reduce competition, raise entry barriers, raise prices, and cost the tax payer. Lastly the average American voter is not well informed on most issues and positions because many are motivated to be informed and even more are misguided on what they think they know. I have attached an interesting essay on this matter.

Link: https://www.cato-unbound.org/2013/10/22/ilya-somin/do-voters-know-enough-make-good-decisions-important-issues-reply-sean-trende 

 

Describe the actions of an “ego booster” – a significant other who shaped your self-concept in a positive way. Also, describe the behavior of an “ego buster” – a significant other who contributed to a more negative self-concept (Chapter 3 in Looking Out Looking In). How have each of these played a role in your life?

 

Grace Jelks 

 

 

My grandmother was an ego booster for me. She was a teacher and encouraged me to read a lot. She wanted me to get lost in whatever adventure I was reading and get some idea of what experiences I could have in the world. I always remembered that she called me gypsy-footed because of my eagerness and excitement over the next adventure. My mother was an ego buster. She was always so dismissive of my ideas or quick to out the negative. I hear her voice in my head telling me all the ways something will fail.

Earlene Mccormick 

 

In my life I will have to say that my mother was my ego booster. She influences me to do better even when I felt like giving up. I got pregnant and an early age dropped out of school but my mother encourage me to do better adn go back to get my GED. I felt I was going to fell it but my mother made me feel like I could do it. I like to get around people that are going to movtivate me to do better. My cousin would have been more lke an ego booster. She was always negative if she was not the one exceling. I passed my GED but she did not.