__________ Is a Designation of Class That Considers Income, Occupation

question 5

Multiple Choice

__________ is a designation of class that considers income, occupation, and salary.

• A) Life chance
• B) Socioeconomic status
• C) Consumption utility
• D) Class analysis

---

Definitions:

Appropriations Bill

Legislation passed by a legislative body that provides funding for specific government agencies, departments, or purposes.

Regulatory Capture Effect

A situation where regulatory agencies are dominated by the industries or interests they are charged with regulating, leading to favorable policies for the regulated entities.

Principal-Agent Problem

A situation in which there is a conflict of interest between a principal (such as an owner) and an agent (such as a manager), because the agent may not act in the best interest of the principal.

Negative Externalities

Costs suffered by a third party as a result of an economic transaction they were not involved in, such as pollution.