Answer the following statement(s) true (T) or false (F)
1. One fundamental factor that caused the major global economic crisis in 2008 was the absence of appropriate, effective regulation of the financial markets.
2. If regulatory agencies take steps which benefit a particular industry, it is uniformly the case that the agency is “captive” to the industry.
3. The FDA (Food and Drug Administration) has been criticized both for holding up approval of experimental drugs and not requiring adequate testing of new medical devices.
4. The term “cognitive regulatory capture” has been applied to the economic crisis of 2008.
5. The FTC (Federal Trade Commission) often opts to negotiate a consent order calling for the cessation of some prohibited practice.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. TRUE
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a. True b. False Indicate whether the statement is true or false
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