Legislation That Offers Immediate and Easily Recognized Benefits, at the Expense

question 9

Multiple Choice

Legislation that offers immediate and easily recognized benefits, at the expense of costs that are observable only in the distant future, is often enacted, even when economic inefficiency results. In economics this is referred to as the

• A) long-term effect.
• B) political-fallacy effect.
• C) shortsightedness effect.
• D) inefficiency effect.

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Definitions:

Exploit Current

Leveraging existing resources, conditions, or opportunities to gain an advantage or achieve a goal.

Dell Computer

An American multinational computer technology company known for its direct-sales model and custom-built personal computers, servers, and related products.

Nike

A global corporation known for designing, manufacturing, and marketing footwear, apparel, equipment, and accessories, especially for sports.

Strategic Planning

A systematic process of envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.