In Economics, Actions by Individuals and Interest Groups Designed to Influence

question 186

Multiple Choice

In economics, actions by individuals and interest groups designed to influence public policy in a manner that will either directly or indirectly redistribute more income to themselves are known as

• A) logrolling.
• B) rent seeking.
• C) influence peddling.
• D) redistribution searching.

Understand the effects of governmental policies, such as taxes and subsidies, on market equilibriums.

Recognize the significance of well-defined property rights in addressing externalities.

Understand how external benefits and costs influence the efficient allocation of resources.

Learn about market mechanisms for managing pollution and external costs.

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Definitions:

Major Categories

Broad classifications or divisions within a field or system, used to organize information, characteristics, or phenomena.

Subcategories

Divisions or smaller groups that exist within a larger category, each often having specific characteristics or purposes.

Major Categories

The primary and most significant classes or divisions into which a wide range of topics, concepts, or objects are organized based on shared characteristics or attributes.

Anger, Fear

Emotions characterized by frustration and perceived threats, respectively, influencing individual and group dynamics in various contexts.