The people firms hire to attempt to convince state legislators and members of Congress to pass laws that are favorable to the economic interests of the firms are called
A) economic advisors.
B) legislative assistants.
C) government bureaucrats.
D) lobbyists.
Answer: D
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Refer to Table 2.3. Nominal GDP in 2013 is
A) $568.00. B) $794.00. C) $812.00. D) $961.00.
In order to change the money supply, the Fed might use all of the following tools except:
A. discount window. B. reserve requirement. C. open market operations. D. deficit spending.
The theory of comparative advantage suggests that trade should happen
a. between economies with small differences in opportunity costs of production. b. between economies with large differences in opportunity costs of production. c. between economies with large differences in specialization. d. between economies with small differences in specialization.
If actual income is $300 billion, potential income is $350 billion, the total deficit is $20 billion, and tax revenue increases with income, then the structural deficit can be any of the following except:
A. $10 billion. B. $1 billion. C. $20 billion. D. zero.