Appropriations Bills Work Their Ways Through Both the House and the Senate

question 15

Multiple Choice

Appropriations bills work their ways through both the House and the senate simultaneously. When there is disagreement on two versions of a bill, the bill is reconciled by

• A) a state judge.
• B) the governor.
• C) a select committee.
• D) a conference committee.
• E) a vote of the House and senate.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or offer a service at a lower opportunity cost than its competitors, leading to more efficient international trade.

Domestic Opportunity Cost

The cost of forgoing the next best alternative use of resources within a particular country when choosing one economic action over others.

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than others.

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.