Which of the following statements best describes the difference between economic regulation and social regulation?
a. Economic regulation has little to do with price and output while social regulation explicitly deals with price and output.
b. Social regulation is concerned with direct redistribution of wealth while economic regulation is concerned with accumulation of wealth.
c. Economic regulation is concerned with direct redistribution of wealth while social regulation is concerned with accumulation of wealth.
d. Social regulation has historically targeted industries such as railroads and airlines while economic regulation has all the industries under its purview.
e. Economic regulation deals with price and output , while social regulation deals with health and safety matters that apply across several industries.
e
You might also like to view...
A rational consumer will cease purchasing a product at that quantity where marginal utility begins to diminish.
a. true b. false
John decides to leave college early and play professional sports. Which of the following economic principles does John use?
i. personal economic policies ii. marginal cost versus marginal benefit analysis iii. normative versus positive economics A) i and ii B) i, ii and iii C) ii only D) i and iii E) ii and iii