According to President Reagan’s Executive Order 12291,
a. economic criteria had to be met when reviewing any major regulation
b. a major regulation was defined as one having an annual effect of $1 million or more
c. only least cost is needed in evaluating major rules, with no consideration for maximizing net benefits
d. incremental benefits of policy must be maximized, with no consideration for minimizing incremental costs
a. economic criteria had to be met when reviewing any major regulation
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What will be an ideal response?
Explain the difference between the effects of a reduction in legal reserve requirements and the effects of an open-market purchase of securities by the Fed
The sacrifice ratio is the
a. sum of the inflation and unemployment rates. b. inflation rate divided by the unemployment rate. c. number of percentage points annual output falls for each percentage point reduction in inflation. d. number of percentage points unemployment rises for each percentage point reduction in inflation.
Which of the following is least likely to be money?
A. cash or currency B. capital C. a checking account