A group of legislators agree to vote for a package of otherwise unrelated laws that they individually favor. Which term describes this activity?
a. Pork-barrel spending
b. Logrolling
c. Political correctness
d. Lobbying
b. Logrolling
Logrolling occurs when a group of legislators agree to vote for a package of otherwise unrelated laws that they individually favor.
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Which of the following is NOT a function of the federal government?
A) providing public goods and services B) imposing a personal income tax C) making transfers to state and local governments D) making social security and welfare payments E) collecting property taxes
Adding wages, interest, rent, and profits yields
A) net domestic product at factor cost. B) gross domestic product at factor cost. C) total expenditure. D) GNP. E) gross domestic product.
Member banks of the Federal Reserve System
a. advise the Fed on monetary policy. b. are immune from the effects of monetary policy. c. vote on members of the Board of Governors. d. have little control over the system they "own."
If a country devotes its resources to acquiring more physical capital it will:
A. decrease its output per person. B. increase its productivity. C. increase its current consumption. D. All of these are true.