Which of the statements best describes the difference between economic regulation and social regulation?
A) There are no significant differences between economic and social regulation, social regulation is a more modern way of regulating an economy.
B) Economic regulation focuses on output and price; social regulation focuses on improving the quality of life.
C) Social regulation focuses on output and price; economic regulation focuses on quality of life issues.
D) Social regulation targets industries like transportation, while economic regulation targets utilities.
B
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Assume the market basket for the consumer price index has two productsbread and milkwith the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A. 118.
B. 116.
C. 86.
D. 85
If net taxes exceed government expenditures, the government sector has a budget ________ and government saving is ________
A) surplus; positive B) surplus; negative C) deficit; positive D) deficit; negative
If the interest rate increases from 5 percent to 7 percent, the present value of a future payment
A) rises. B) falls. C) is unaffected. D) might either rise or fall.
______ is what customers are WILLING to pay for marginal benefit of a product
A. Equibrium B. Price C. Value D. Utility