The Term Iron Triangle Refers to the ______

question 44

Multiple Choice

The term iron triangle refers to the ______.

• A) phenomenon of members of interest groups, congressional committees, and bureaucratic agencies cooperating for mutual benefit
• B) practice of business, labor, and consumer groups maintaining a united front against burdensome bureaucratic regulations
• C) alliances made by different parts of the bureaucracy to prevent a presidential reorganization
• D) control that presidents, members of Congress, and judges have over the bureaucracy
• E) long-standing relationships among senators, representatives, and their constituents

---

Definitions:

Demand Curve

A representation that shows the quantity of a particular good or service that consumers are willing and able to purchase at various prices.

Government Intervention

Actions taken by the government to influence or directly control economic or market conditions.

External Costs

Costs incurred by third parties who are not involved in a transaction, often leading to market failure if not properly accounted for.

Perfect Information

A market condition where all participants have complete and identical information about the product, including its price and quality.