Which of the Following Best Describes the Most Important Factor

question 17

Multiple Choice

Which of the following best describes the most important factor in legislation?

• A) The amount of financing and lobbying behind each choice
• B) The beliefs, attitudes, and values of the policy
• C) The preferences of the majority of American voters
• D) The president's ongoing encouragement for one particular choice

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Definitions:

Marginal Rate

A rate that indicates the change in a variable (such as cost, revenue, or tax) as its underlying factor changes incrementally.

Substitution

The action of replacing one good or service with another based on changes in relative prices, incomes, or preferences.

Indifference Curve

A graph showing different combinations of two goods that provide the same level of utility or satisfaction to a consumer.

Utility

In economics, a measure of satisfaction, usefulness or value that an individual gains from consuming goods and services.