The Swift Passage of a $700 Billion Bill to Bail

question 24

Multiple Choice

The swift passage of a $700 billion bill to bail out failing financial corporations in 2008 was the result of politicians' career ambitions (mixed with concern for the nation) operating through the legislative process. Which of the five principles of politics did this illustrate?

• A)history principle
• B)collective action principle
• C)institution principle
• D)policy principle

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Definitions:

State Income Tax

A tax levied by a state on the income earned by its residents and businesses operating within the state.

Federal Income Tax

Tax levied by the federal government on individuals, corporations, estates, and other entities' annual earnings.

State Unemployment

A government-provided insurance program that offers temporary financial assistance to the unemployed who lost their jobs through no fault of their own.

Federal Unemployment

Refers to the United States federal government program that provides unemployment benefits to eligible workers.