ECON 262
1. Describe a difference between allocating resources via markets and allocating resources via the government.
2. What is logrolling? Why does logrolling lead to small groups of people (perhaps) benefiting at the expense of national taxpayers?
3. What is fiscal illusion? What are the outcomes of fiscal illusion?
4. What is economic rent?
5. What is rent seeking? Why is it considered "wasteful" by economists?
6. Why would economists contend that if someone wants real changes to political outcomes that effect the economy and society generally, they need to change the rules of the game -- not those in office!!
7. What questions do you still have about this material?