Lobbying in General Is Anti-Majoritarian Because

question 60

Multiple Choice

Lobbying in general is anti-majoritarian because:

• A) lobbying is not mentioned anywhere in the U.S. Constitution.
• B) lobbying is inconsistent with democratic principles.
• C) groups tend to lobby for changes that help a small fraction of the population.
• D) only those groups with large sums of money are able to influence the political process.
• E) once a group represents the majority it becomes a political party instead.

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Definitions:

Fair-Value Hedge

A hedge of the exposure to changes in fair value of an asset or liability or an unrecognized firm commitment, which could affect profit or loss.

Forward Contract

a financial agreement between two parties to buy or sell an asset at a future date for a price agreed upon today, commonly used for hedging and speculation.

Gross Method

The gross method is an accounting practice whereby discounts are not considered in the recording of purchases; discounts taken are recorded as income.

Forward Contract

A specialized agreement crafted between two parties to transact an asset at a certain price on a future agreed date.