The Nevada Constitution was changed so that eminent domain could

-only be used to move property from one private party to another

-no longer be used at all

-not be used to move property from one private party to another

-be used only with legislative approval

The drive to change state eminent domain laws started because (among other cases) the state of New York forced people out of their homes, and then gave the land to a private person who built the Barkley's Center. The Supreme Court said that, even though this was the product of a rigged system, it was not illegal.

O True

False

The part of the 5th Amendment that says the government must compensate folks if it uses the power of eminent domain is called the___ Clause.

• Santa
• Appropriation
• Reciprocal
• Takings

Which of the following is false concerning the Nevada Constitution?

• the legislature meets every other year
• judges are required to consider the safety of victims of crimes
• legislative sessions are limited to 120 days
• there is no citizenship requirement to vote

Since its founding in the 1860s, Nevada's Constitution has never permitted a poll tax.

• False
• True

The Nevada changed the Constitution to recognize marriages regardless of the gender in 2020.

False

O True

Nevada's fight to bear arms provisions include hunting and recreation as protected uses of arms.

True

O False

Henry George believed that vacant land should be taxed

• at a rate substantially below improved land
• as if it was used in agriculture
• as if it was being used for its best use
• at zero

Nevada at the state level has a highly unstable tax system because it is heavily based on

O sales and gaming taxes

O only gaming taxes

O mineral extraction fees

property taxes

Property taxation in Nevada must have a uniform rate, except for

O casinos

ranches

O mines

bars

Nevada has a Constitutional limit on the amount of debt it has, based on a percentage of

total tax revenues

O assessed property valuation

• gaming revenues
• gross proceeds of mines

The mining industry and gaming industry in Nevada generate about the same amount of revenue each year. Gaming pays __ the taxes of mining.

O one-half

O twice

O four times

O 10 times

The Nevada Constitution was written by the

___industry.

tuna

O cattle ranching

• mining
• gaming

Powers not given to US government by the Constitution belong to:

• the people, who may give them to their state
• the states, who may delegate to the people
• the states only
• the states and the people

The 9th Amendment is there to tell us that:

O all our rights are limited by the others

• the Supreme Court can rule on the constitutionality of laws
• we have more rights than are listed in the Constitution
• states have rights as well as the Federal government

One reason the Founding Fathers originally did not have a Bill of Rights in the Constitution because they thought it would

give rights to people other than white males

O make people think their rights came from the Bill

O be subject to misinterpretation

get paid on the first of the month

The status of the Equal Rights Amendment is

• the time line to ratify is technically passed
• two states ratified after the deadline
• all of these
• it is one state short of ratification

The 19th Amendment gave all women the right to vote. Prior to that, it had been a state decision, and some women could vote

and others could not.

O False

True

The Progressive Era amendments include one prohibiting the manufacture and transportation of alcoholic beverages.

O False

True

Amendments four through eight are there to

• protect people from abuse by the criminal justice system
• give law enforcement power to do its job
• limit the power of the Executive against the Judicial
• protect US citizens from foreign intervention

The Supreme Court has ruled in Heller that the 2nd Amendment is the only unlimited right in the Constitution.

O True

O False

The Supreme Court has ruled that corporations do not have free speech rights under the Constitution, except as granted by Congress.

O True

O False

The Bill of Rights is the first __amendments.

12

O 13

O 10

-8

Economic theory of crime says that criminals are discouraged the most by

O length of prison sentences

fines, rather than prison

O the chance of getting caught

impacts on their family

The original proposed Bill of Rights had __

amendments, but initially only __

passed.

• 12, 10
• 11, 9

O 14, 10

10, 8

Which of the following is false?

• Several sports and music stars have tried to trademark their children's names Gene Simmons tried to trademark the "Devil's Horn" sign
• Taylor Swift tried to tradement "This sick beat"
• Avril Lavigne is the only #1 artist to has never been sued over copyright

A work that is based on another work (e.g., a new drug that is chemically similar to an existing drug), is called a ___

work

• retroactive
• secondary
• derivative

O included

I wrote a sleazy novel and publish it on Amazon. The copyright will last

O my life plus 70 years

• 95 years
• 26 years, renewable once

O 70 years, renewable once

Copyrights, patents, and trademarks create monopolies as an incentive to create new works of intellectual property, since we expect the owners will earn greater profits on their works.

True

O False

Which of these is false concerning the Keystone XL pipeline the Obama killed, Trump restarted, and Biden killed:

• states that want it, want it because it creates lots of tax revenue
• it has thousands of construction jobs, but only 50 permanent jobs
• it would transport Canadian oil across the US for export to China
• it crosses Native American lands and the Missouri River
• none of these are false

Which of the following is false concerning the environmental movement in the US?

• it started with the publication of "Silent Spring"
• we replaced DDT with other pesticides that had other negative effects
• the pesticide DDT was largely responsible for it
• DDT is still banned worldwide today

The phrase "There ain't no such thing as a free lunch" or TANSTAAFL comes from

• Adam Smith
• AC Pigou
• Milton Friedman
• Ronald Coase

Which of the following is false about nuclear power and Yucca Mountain?

Yucca Mountain needs to hold the waste safely for about 500 years

O nuclear power is profitable only because of government subsidies

O transporting waste to Yucca would expose people along US 95 to radiation

only Nevada was studied as a site for nuclear waste

The Trump Administration

the number of pages of federal rules and regulations, and __ the number of rules.

O lowered, raised

O lowered, lowered

raised, lowered

O raised, raised

The government builds a park near your house and the value of the park goes up. This is an example of a(n)

• benefit shifting
• tax expenditure

O positive externality

reactive gain

Advocates of government regulation argue they are necessary to

set uniform "rules of the road" for everyone

O all of these

counteract asymmetric information

O counteract externalities

One of the biggest problems in dealing with environmental issues is the fact that there are always costs and benefits, and these do not fall on the same people. For example, eliminating mercury from tuna means using less coal, which costs coal miners their jobs, and we are generally unable to figure out a way to make everybody better off

O False

True

When we caught too many fish and as a result destroyed the fishing off Alaska, its because fish are a(n)

• indivisible resource
• common property resource
• unallocated resource

O public property resource

If I can get you to pay to clean up the ocean, and I get to benefit from it without paying for it, I am a(n)

• exempt participant
• social rider
• free consumer
• free rider

The general term for this problem is:

• externality
• requisite cost compensation
• spacial anomaly
• unintended outcome

Regulatory capture occurs when the regulated industry

controls the reglators

O removes the regulators

• is transformed into a government entity
• is shut down by the government

The government builds a road across your land. They are required to compensate you because you no longer own the land.

The part of the Constitution that requires this compensation is called the

Compensation Clause

• Takings Clause
• Private Holdings Clause

O Recompense Amendment

If the process of proposing a new regulation includes a period of public comment, opponents may not challenge the proposed regulations in court.

• False
• True

The Congress passes laws, the Executive Branch creates the federal regulations based on those laws.

O False

True

Your stock broker does not spend enough time to find you the best price, because they make money on volume and taking the time to save you money would cost them money. This is an example of the

• principal agent problem
• moral information problem
• asymmetric agent problem
• moral bias problem

You go to a sushi restaurant that claims to be serving blue fin tuna. The restaurant is serving Lake Mead Bass and just calling it blue fin tuna, and charging a high price as if it were tuna. You are a victim of:

• information externalities
• asymmetric information
• non-disclosure bias
• symmetric bias

The Case Theorem says the best way to deal with externalities is

• taxes
• negotiation between the parties
• subsidies

O government regulations

AC Pigou would tell us that, if a steel mill creates a social cost while making steel, we should:

• tax them to counter act it
• pass a law ordering them to stop
• pay consumers who buy the steel
• prohibit them from producing steel

If the social cost of a good exceeds the private cost, we will produce:

O too much of it

O just the right amount of it

O none of it

O too little of it