The So-Called Collective Action Problem Helps Explain Why

question 237

Multiple Choice

The so-called collective action problem helps explain why

• A) minorities always bear the costs of programs voted for by the majority.
• B) businesses often find it difficult when they have to deal with a labor union.
• C) it is hard for the government to discern the true preferences of everyone in society.
• D) special-interest groups could have the costs of their narrowly focused programs be paid for by the general taxpayers.

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Definitions:

Net Fixed Assets

Net Fixed Assets represent the total value of a company's property, plant, and equipment minus depreciation, indicating the actual value of a company's fixed assets.

Accounts Payable

Accounts payable are liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Operating Cash Flow

The money produced through the regular operational functions of a company during a particular timeframe.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.