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Appropriations Bill
Legislation passed by a legislative body that provides funding for specific government agencies, departments, or purposes.
Regulatory Capture Effect
A situation where regulatory agencies are dominated by the industries or interests they are charged with regulating, leading to favorable policies for the regulated entities.
Principal-Agent Problem
A situation in which there is a conflict of interest between a principal (such as an owner) and an agent (such as a manager), because the agent may not act in the best interest of the principal.
Negative Externalities
Costs suffered by a third party as a result of an economic transaction they were not involved in, such as pollution.
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