A government fulfills a protective function when it
A) provides funds for flood control projects and builds highways.
B) prevents illegal seizure of private property.
C) established and enforces minimum wage laws.
D) taxes some citizens in order to provide income transfers to others.
B) prevents illegal seizure of private property.
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The "primary motive" of regulators, according to the share-the-gains, share-the-pains theory, is to
A) maximize their income through accepting monetary payoffs from groups. B) ensure that every group gets what it wants. C) ensure that all customers share the benefits of regulation, and not just the wealthiest consumers. D) keep their jobs.
As a result of a conviction under the Sherman Antitrust Act, Standard Oil of New Jersey
A) was fined for its extensive price discriminating activity. B) was restrained from oil exploration for twenty-five years, which enabled other oil firms to assume leadership in the industry. C) was broken up into many smaller companies. D) went bankrupt and no longer is in existence.