What is the main difference between economic regulation and social regulation?
What will be an ideal response?
Economic regulation involves only particular industries, including policies aiming at controlling prices or influencing the characteristics of specific products. In contrast, social regulation applies to all firms in the economy and aims at improving the quality of life by, for example, regulating product safety, advertising and environmental effects.
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In ________ market structure, a firm's output depends ________
A) an oligopoly; only on its own marginal revenue and marginal cost curves B) a monopolistically competitive; in part on its competitors' price and quantity decisions C) an oligopoly; in part on its competitors' price and quantity decisions D) a monopolistically competitive; only on its marginal revenue curve
A positive aspect of migration out of developing countries is
a. reduced population growth b. remittances to developing countries c. increased agricultural productivity d. increased foreign aid e. all of the above