A special-interest issue is one whose passage yields:
A. private benefits equal to external benefits.
B. large external benefits compared to private benefits.
C. small economic losses to a small number of people and large economic losses to a large
number of people.
D. large economic gains to a small number of people and small economic losses to a large
number of people.
Answer: D
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A change in which of the following changes the supply of dollars and shifts the supply curve of dollars?
I. an increase in the exchange rate II. a change in interest rates III. a decrease in the expected future exchange rate A) I B) I and II C) II and III D) I, II, and III
Which of the following was not a reason for the significant decline in housing prices in 2007?
a. overbuilding b. strict regulation c. excessive previous appreciation d. aggressive mortgages
Suppose AT&T issues a five-year bond with a face value of $10,000 that pays an annual coupon payment of $300. What is the interest rate that AT&T is paying on the borrowed funds?
a. 15% b. 3% c. 10% d. 33%
Imposing the same standards on high- and low-income countries can be a problem because
A) it widens the market and lowers prices. B) there are no economies of scale for low-income countries. C) high-income countries have few environmental problems. D) low-income countries may have less ability to enforce standards.