Consider a policy proposal that aims to save small dairy farms by providing an annual lump sum subsidy to dairy farms with fewer than two hundred dairy cows
Why might this proposal pass, even if it benefits a few dairy farmers at the expense of the majority of voters? a. The program might only cost each voter a few pennies and yet benefit small dairy farmers immensely. b. The American people value the small dairy farm highly and want to see it preserved. c. A cyclical majority makes it possible for the proposal to pass although it is not generally preferred.
d. Voters think it will result in cheap milk.
a
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________ policy attempts to manipulate ________ in the economy
A) Monetary; price controls B) Monetary; fiscal policy C) Fiscal; overall spending D) Fiscal; monetary policy
In 1981-1983, the world economy suffered a steep recession. Naturally, the fall in industrial countries' aggregate demand had a direct negative impact on the developing countries
What other mechanism was an even more important contributor to this event? A) the immediate steep inflation that followed the recession B) the dollar's sharp depreciation in the foreign exchange market C) the increase in primary commodity prices, increasing terms of trade in many poor countries D) the collapse in primary commodity prices and the immediate, large rise in the interest burden that debtors had to pay E) the influx of defaulting credit