What is "pork barrel spending"?
What will be an ideal response?
The term "pork barrel spending" refers to inefficient public spending that politicians value because it increases their popularity.
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For a single-price monopoly, marginal revenue is ________ when demand is elastic and is ________ when demand is inelastic
A) negative; negative B) negative; positive C) positive; negative D) positive; positive
According to the "rational expectations" school of thought in macroeconomics, the short-run Phillips curve is ________ in face of unanticipated changes in monetary policy
A) negatively sloped B) vertical C) positively sloped D) horizontal
The tit-for-tat strategy only works for a prisoner's dilemma that:
A. is repeated. B. is played only one time. C. has only one Nash equilibrium. D. does not have a Nash equilibrium.
A publicly traded firm has 4 million shares of stock outstanding, with a current share price of $50. The value of its plant and equipment is $250 million. Its profit annually is $50 million. The average rate of return on existing capital is
a) 5% b) 10% c) 15% d) 20% e) 25%