Which of the Following Explains Why Pork-Barrel Spending Is Often

question 174

Multiple Choice

Which of the following explains why pork-barrel spending is often approved, even when the spending is inefficient?

• A) Each representative has little incentive to oppose pork-barrel spending since the tax savings would accrue to taxpayers throughout the nation.
• B) General opposition to pork-barrel spending by a legislator would make it more difficult for the legislator to arrange for pork-barrel projects that provide concentrated benefits for his district.
• C) Logrolling increases the likelihood that pork-barrel projects will be approved.
• D) All of the above are correct.

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Definitions:

Exercise Price

The specified price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying asset.

Risk-Free Rate

The return on investment of a risk-free asset, typically considered as government bonds, where the investor is assumed to have zero default risk.

Quoted Price

A quoted price is the most recent price at which an asset or service was traded or offered for trade, reflecting the current market value as quoted on an exchange or in other financial contexts.

Call Option

A call option is a financial contract that gives the holder the right, but not the obligation, to buy a stock, bond, commodity, or other assets at a specified price within a fixed time period.