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Microeconomics Policy and Its Effects Module 8 Review Questions with complete Solutions Graded A+ CA$11.53   Add to cart
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Microeconomics Policy and Its Effects Module 8 Review Questions with complete Solutions Graded A+
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Microeconomics Policy and Its Effects Module 8 Review Questions with complete Solutions Graded A+ 1 Regulatory Policy Vocabulary - Answers compliance: the act of following established laws and guidelines externalities: the consequences of economic decisions that affect the community at lar...

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  • October 10, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • microeconomics policy and its effects

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  • Microeconomics
  • Microeconomics

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Microeconomics Policy and Its Effects Module 8 Review Questions with complete Solutions Graded A+

1 Regulatory Policy



Vocabulary - Answers compliance: the act of following established laws and guidelines




externalities: the consequences of economic decisions that affect the community at large




legislate: to create a law or rule




mixed-market economy: an economy that has some government intervention




regulatory policy: a rule or guideline created to protect the public interest

1 Regulatory Policy - Answers A purpose of government regulation in a mixed-market economy is to
protect



property rights.

1 Regulatory Policy - Answers The chart shows a cost-benefit analysis. Which most likely explains why
the costs and benefits shown by the EPA are higher than the other regulatory agencies?



The EPA legislates and enforces more regulations that reap greater benefits than the other agencies.

1 Regulatory Policy - Answers A goal of financial regulatory agencies is to

,prevent monopolies.

1 Regulatory Policy - Answers A regulatory agency that protects workers is



OSHA.

1 Regulatory Policy - Answers Government regulation is intended to



discourage producers from taking harmful actions.

1 Regulatory Policy - Answers The Food and Drug Administration sets standards for



product labeling.

1 Regulatory Policy - Answers Which is a function of regulatory agencies?



encouraging business compliance

1 Regulatory Policy - Answers In which situation would government regulation most likely be necessary?



A factory requires employees to work in unsafe conditions.

1 Regulatory Policy - Answers Which statement explains how regulations on prices affect business
practices?



Regulations keep prices fair and prevent businesses from establishing monopolies.

1 Regulatory Policy - Answers A regulatory agency that makes sure banks follow federal laws is



the FDIC.

1 Regulatory Policy - Answers Which are duties of OSHA? Check all that apply.

, investigating worker complaints



inspecting businesses

1 Regulatory Policy - Answers Which are results of regulation in a mixed-market economy? Check all that
apply.



compliance with laws



advantages for producers



control of externalities



???

2 Economic Policy: Influential Theories



Vocabulary - Answers classical economics: a group of early economic theories that focus on the
establishment of economic freedoms




coordinate: to work together to meet a goal




laissez faire: the belief that governments should not be involved in economic affairs




monetarism: an economic theory that promotes stability through influencing the money supply

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