Despite Working in Different Sectors of the Economy, Interest Groups

question 27

Multiple Choice

Despite working in different sectors of the economy, interest groups including the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) as well as the American Federation of State, County and Municipal Employees have in common the fact that
They are _______________.

• A) labor organizations, or unions
• B) limited by law in how well they can compete with business associations
• C) usually biased in favor of the wealthy and powerful
• D) professional lobbies

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Definitions:

Nominal Cost

A term often used to describe a cost that is very small or insignificant in comparison to the overall financial figures involved.

Acquired

The process in which one company obtains a majority stake in or the entirety of another company.

Donation

A gift given by physical or legal persons, typically for charitable purposes and/or to benefit a cause.

Fair Market Value

The price at which property would sell between a willing buyer and a willing seller, each having reasonable knowledge of all relevant facts and not under any compulsion to transact.