An Example of a Powerful Interest Group That Advocates for Second

question 13

Multiple Choice

An example of a powerful interest group that advocates for Second Amendment rights is the

• A) National Rifle Association (NRA).
• B) American Association for Retired People (AARP).
• C) People for the American Way.
• D) Association of Trial Lawyers of America (ATLA).
• E) Halliburton Corporation.

---

Definitions:

Allocative Efficiency

A state of the economy in which production is in accordance with consumer preferences; every good or service is produced up to the point where the last unit provides a utility to consumers equal to the cost of producing it.

Consumer Surplus

The difference in the amount consumers are prepared and have the means to pay for a service or good compared to the amount they actually do pay.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, often depicted as the area above the supply curve and below the market price.

Average Cost

The total cost of production divided by the number of goods produced; also known as per unit cost.