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Texas has ________ laws dealing with lobbying by former government officials.

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Joshua Stredder
Joshua StredderLv10
7 Mar 2021

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Related questions

Which of the following demonstrates that a country has an unstable business environment?

A) Its business laws are inflexible and cannot be interpreted according to the comfort of government officials.

B) Its government does not enforce product liability laws or protect individual property rights.

C) Its activities are bound by several multilateral agreements conducted with neighboring countries.

D) Its private sector comprises independently owned firms that exist to make profits.

According to the Boston Globe, Lobbying for special tax treatment produced a spectacular return for Whirlpool Corp., courtesy of Congress and those who pay the bills, the American taxpayers. By investing just $1.8 million over two years in payments for Washington lobbyists, Whirlpool secured the renewal of lucrative energy tax credits for making high-efficiency appliances that it estimates will be worth a combined $120 million for 2012 and 2013. Such breaks have helped the company keep its total tax expenses below zero in recent years. The return on that lobbying investment is about 6,700 percent.

(1) Name four economic justifications for the collective's existence (i.e., the existence of government).

(2) The tax credits are for making high-efficiency appliances that are presumably good for the environment (i.e., that benefit the public in addition to the appliance consumer). Make an argument for why these subsidies are justified. Demonstrate and explain.

(3) The decisions concerning tax credits are made by elected officials. Why does the collective agreement make decisions in this manner? Explain.

(4) Are the decisions of the elected officials likely to be consistent with the collective desires? Why or why not? Explain.

(5) Why has Whirlpool Corp. contributed so much money to elected officials (i.e., what are they trying to accomplish)? Demonstrate and explain.

(6) Has the general public likely been aware of these tax credits? Why or why not? Explain.

7. Agreement and disagreement among economists

Suppose that Lorenzo, an economist from a research institute in Texas, and Neha, an economist from a nonprofit organization on the West Coast, are arguing over government intervention. The following dialogue shows an excerpt from their debate:

Neha: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate.

Lorenzo: I feel that government involvement in the economy should be reduced because government programs cause more harm than good.

Neha: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate.

The disagreement between these economists is most likely due to differences

A.) in perception versus reality.

B.) in value.

C.) in scientific judgment.

Despite their differences, with which proposition are two economists chosen at random most likely to agree?

A.) Lawyers make up an excessive percentage of elected officials.

B.) Tariffs and import quotas generally reduce economic welfare.

C.) Minimum wage laws do more to harm low-skilled workers than help them.

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