A Private Group That Raises and Distributes Funds for Use

question 32

Multiple Choice

A private group that raises and distributes funds for use in election campaigns is called a(n)

• A) interest group.
• B) political action committee.
• C) campaign revenue association.
• D) advocacy association.

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Definitions:

Price Floor

A government-imposed minimum price charged for a commodity, intended to protect producers by ensuring prices do not fall below a certain level.

Consumer Surplus

The distinction in the total financial outlay consumers are prepared to make for a good or service and the outlay made.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded, typically sloping downward from left to right.

Willingness To Pay

The maximum amount an individual is prepared to spend to procure a good or service or to avoid something undesirable.