What Type of Ballot Measure Allows Voters to Approve or Reject

question 19

Multiple Choice

What type of ballot measure allows voters to approve or reject a law that is proposed by state officials?

• A) popular referendum
• B) recall
• C) legislative referral
• D) initiative
• E) legislative referendum

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Definitions:

Consumer Surplus

The gap between what consumers are prepared to pay for a good or service and what they actually do pay.

Binding Price Floor

A minimum price set by the government for certain goods and services that is above the equilibrium price, causing a surplus.

Unwanted Surplus

An excess of goods that exceeds consumer demand, leading to unsold stock and potential waste.

Inefficiencies

Refers to situations where resources are not used in the most effective way, leading to waste or lost potential benefit.