Which One of the Following Is a Concern About How

question 50

Multiple Choice

Which one of the following is a concern about how interest groups use the ballot initiative process?

• A) It is generally a waste of the group's time, effort, and resources.
• B) It allows states to undermine federal law.
• C) It circumvents the legislators who are supposed to represent voters.
• D) It favors groups with many monetary resources.

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Definitions:

Time Inconsistency

The tendency of certain conditions or decisions to change over time, especially in the context of economic planning and policy-making.

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.

Behavioral Economists

Economists who study how psychological, social, cognitive, and emotional factors affect economic decisions and market outcomes.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.