Social regulation differs from industrial regulation in that:
A. social regulation applies to virtually all industries, while industrial regulation applies to restricted number.
B. industrial regulation is involved in the details of the production process, while social
regulation is not.
C. social regulation has expanded less rapidly in recent years than has industrial regulation.
D. industrial regulation regulates products whereas social regulation regulates prices.
Answer: A
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Public choice theory suggests that political candidates try to get elected by
a. appealing to conservatives b. appealing to liberals c. appealing to senior citizens d. appealing to the median voter e. raising taxes
The idea in economics that "there is no free lunch" means that:
A. Businesses would go bankrupt if they offered free lunches B. The thought of a free lunch is often better than the reality of consuming it C. There are opportunity costs involved even in free lunches D. Free lunches used by businesses to attract customers is an inefficient marketing ploy