Special interest groups (such as doctors, teachers, lawyers, health insurance companies, the automobile industry and others) can best be characterized by which of the following statements?
(a) They are constantly working the government to seek rents from policy decisions.
(b) They are resistant to change in governmental policies that benefit them at the expense of others.
(c) They help push through federal policies that result in technological backwardness, low productivity and less overall economic growth.
(d) They can be characterized by all of the above.
(d)
You might also like to view...
The figure above shows the market for umbrellas in Sunville. Suppose one firm owns all umbrella stores in Sunville and charges $40 per umbrella. In this situation, the market for umbrellas is
A) efficient, with no deadweight loss but also no surplus. B) inefficient, with a deadweight loss of $2,666.67. C) inefficient, with a deadweight loss of $1,333.33. D) efficient, generating a total surplus of more than $10,000.
Puts and calls are the choices available to participants in the
A) options market. B) futures market. C) swap market. D) stock market.
If the stock market continues a steady climb upwards, this ____ consumer confidence and wealth, leading to ____ consumption, and ____ aggregate demand
a. increases, decreased, increased b. decreases, decreased, decreased c. increases, increased, increased d. increases, increased, decreased
The three duties of government, according to Adam Smith, are (1) _____, (2) _____ and (3) _____.
Fill in the blank(s) with the appropriate word(s).