When Voters Are Myopic, Politicians Will Prefer Policies That Generate

question 271

Multiple Choice

When voters are myopic, politicians will prefer policies that generate:

• A) small benefits now and large costs later.
• B) small costs now and large benefits later.
• C) higher taxes now, but more economic growth later.
• D) lower unemployment but higher inflation.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, through which an individual makes associations between certain behaviors and their consequences.

B.F. Skinner

An American psychologist known for his work on behaviorism and the development of the theory of operant conditioning.

Albert Bandura

A Canadian-American psychologist known for his work on social learning theory and the concept of self-efficacy.

Vicarious Learning

The process of learning by observing the actions and outcomes of others' behaviors rather than through direct experience.