A Loose, Informal Relationship of Public Officials, Interest Groups, and Activists

question 40

Multiple Choice

A loose, informal relationship of public officials, interest groups, and activists who are all concerned with the same policies is called

• A)an iron triangle.
• B)a membership association.
• C)the New Politics movement.
• D)an issue network.

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Definitions:

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they do pay.

Tax

A mandatory monetary contribution or different sort of tax levied on a taxpayer by a government entity to finance government expenditure and assorted public costs.

Deadweight Loss

The loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is distorted.

Equilibrium

An economic situation in which no individual would be better off doing something different.