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Help Save & Exit 1 Consider a specific example of the special-interest effect. In 2012, it was estimated that the total value of all corn-production subsidies in the United States was about $3 billion. The population of the United States was approximately 300 million people that year. Instructions: Enter your answers as a whole number. a. On average, how much did corn subsidies cost per person in the United States in 2012? (Hint: A billion A million is a 1 followed by six zeros.) a 1 followed by nine zeros. $4 10 per person Вook b. If each person in the United States is willing to spend only $0.50 to support efforts to overturn the corn subsidy, and if antisubsidy advocates can only raise funds from 10 percent of the population, how much money will they be able to raise for their lobbying efforts? erences $4 15 million c. If the recipients of corn subsidies donate just 1 percent of the total amount that they receive in subsidies, how much could they raise to support lobbying efforts to continue the corn subsidy? $. 30 million d. By how many dollars does the amount raised by the recipients of the corn subsidy exceed the amount raised by the opponents of the corn subsidy? %24 15 million Prev 1 of 10 Next >

Help Save & Exit 1 Consider a specific example of the special-interest effect. In 2012, it was estimated that the total value of all corn-production subsidies in the United States was about $3 billion. The population of the United States was approximately 300 million people that year. Instructions: Enter your answers as a whole number. a. On average, how much did corn subsidies cost per person in the United States in 2012? (Hint: A billion A million is a 1 followed by six zeros.) a 1 followed by nine zeros. $4 10 per person Вook b. If each person in the United States is willing to spend only $0.50 to support efforts to overturn the corn subsidy, and if antisubsidy advocates can only raise funds from 10 percent of the population, how much money will they be able to raise for their lobbying efforts? erences $4 15 million c. If the recipients of corn subsidies donate just 1 percent of the total amount that they receive in subsidies, how much could they raise to support lobbying efforts to continue the corn subsidy? $. 30 million d. By how many dollars does the amount raised by the recipients of the corn subsidy exceed the amount raised by the opponents of the corn subsidy? %24 15 million Prev 1 of 10 Next >

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Help Save & Exit 1 Consider a specific example of the special-interest effect. In 2012, it was estimated that the total value of all corn-production subsidies in the United States was about $3 billion. The population of the United States was approximately 300 million people that year. Instructions: Enter your answers as a whole number. a. On average, how much did corn subsidies cost per person in the United States in 2012? (Hint: A billion is a 1 followed by nine zeros. A million is a 1 followed by six zeros.) %24 10 per person Book b. If each person in the United States is willing to spend only $0.50 to support efforts to overturn the corn subsidy, and if antisubsidy advocates can only raise funds from 10 percent of the population, how much money will they be able to raise for their lobbying efforts? erences %24 15 million c. If the recipients of corn subsidies donate just 1 percent of the total amount that they receive in subsidies, how much could they raise to support lobbying efforts to continue the corn subsidy? %24 30 million d. By how many dollars does the amount raised by the recipients of the corn subsidy exceed the amount raised by the opponents of the corn subsidy? 15 million Prev 1 of 10 Next > MacBook Air %24 %24 %24
Transcribed Image Text:Help Save & Exit 1 Consider a specific example of the special-interest effect. In 2012, it was estimated that the total value of all corn-production subsidies in the United States was about $3 billion. The population of the United States was approximately 300 million people that year. Instructions: Enter your answers as a whole number. a. On average, how much did corn subsidies cost per person in the United States in 2012? (Hint: A billion is a 1 followed by nine zeros. A million is a 1 followed by six zeros.) %24 10 per person Book b. If each person in the United States is willing to spend only $0.50 to support efforts to overturn the corn subsidy, and if antisubsidy advocates can only raise funds from 10 percent of the population, how much money will they be able to raise for their lobbying efforts? erences %24 15 million c. If the recipients of corn subsidies donate just 1 percent of the total amount that they receive in subsidies, how much could they raise to support lobbying efforts to continue the corn subsidy? %24 30 million d. By how many dollars does the amount raised by the recipients of the corn subsidy exceed the amount raised by the opponents of the corn subsidy? 15 million Prev 1 of 10 Next > MacBook Air %24 %24 %24
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