A Large US

question 63

Multiple Choice

A large U.S.steel firm wants to restrict imports of Japanese steel,but Ford Motor Company wants fewer restrictions on steel imports so that its cost of production remains constant.This can best be described as a(n) _____

• A)zero-sum game.
• B)example of a competing interest.
• C)example of a special interest.
• D)situation with widespread costs and concentrated benefits.
• E)free-rider problem.

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights such as voting on corporate matters.

Unlimited Personal Liability

A legal obligation where an individual can be held personally responsible for the debts and obligations of a business entity without any limit on the amount.

General Partners

Individuals in a partnership who are responsible for the management of the partnership, have unlimited liability for its debts, and share the partnership's profits.

Limited Partners

Part-owners of a partnership who have limited liability to the debts of the partnership and do not participate in day-to-day management.