Asked by Mulham Shbeib on Jun 20, 2024
Verified
When the special-interest effect is the major reason for the passage of a government policy or project, then economic efficiency will always improve.
Special-Interest Effect
Any political outcome in which a small group (“special interest”) gains substantially at the expense of a much larger number of persons who each individually suffers a small loss.
Government Policy
refers to the actions taken by a government to address issues or achieve goals, which may involve regulations, laws, or spending priorities.
Economic Efficiency
A situation where resources are allocated in a way that maximizes the production of goods and services.
- Gain an understanding of the principles and outcomes of rent seeking, logrolling, and the impact of special-interest factions within governmental decision-making.
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Learning Objectives
- Gain an understanding of the principles and outcomes of rent seeking, logrolling, and the impact of special-interest factions within governmental decision-making.
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