When Representative Billy Tauzin (R-La

question 2

Multiple Choice

When Representative Billy Tauzin (R-La.) , who steered the Bush administration's Medicare drug bill through the House of Representatives, left public service to work as a pharmaceutical industry lobbyist, he typified the __________ of interest groups.

• A) revolving door tradition
• B) K Street strategy
• C) indirect procurement mode
• D) blocking action

---

Definitions:

Quantity of Output

The total amount of goods or services produced by a firm or industry during a specific time period.

Surplus Supply

A situation where the quantity of a good or service supplied in a market exceeds the quantity demanded at the current price.

Soviet Union

A former federation of communist states in Eastern Europe and Northern Asia, existing from 1922 until its dissolution in 1991, known officially as the Union of Soviet Socialist Republics (USSR).

Price Signals

Indicators that arise from the fluctuation of prices in a market, guiding economic decisions and resource allocation.