iii. Question 3 3 out of 3 points The Mullahs in Iran is an example of the power of government derived from: Selected Answer: Georgist economic theory describes rent-seeking in terms of land rent, where the value of land largely comes from government infrastructure and services (e.g. If a business or operation has lots of rules or regulations on it, that could be very costly. The total supply in an economy ii. To overcome market failure, the government may place laws and regulations which prohibit certain behaviour and actions. The Combined Communications-Electronics Board (CCEB) is comprised of the five member nations, Australia, Canada, New Zealand, United Kingdom and United States and is the Privatization: the act of moving a formerly public sector/nationalized firm to the private sector. Question 1 3 out of 3 points Economic regulations: Selected Answer: Cut across industry lines. Regulations can limit or prevent: Demerit goods (alcohol, drugs, smoking) Goods with negative externalities (burning of coal) Abuse of monopoly power. and the community in general, rather than from the actions of any given landowner, in their role as mere titleholder. Today, we’re going to wrap up our discussion of economic policy by looking at government regulation. The total demand in an economy. Policies that affect the supply, demand, and value of a nation’s currency are: Answer Selected Answer: Monetary policies. To achieve these objectives it … Monetary policies. Correct Answer: Monetary policies. chapter 6 section 3 the role of prices quizlet, UNCLASSIFIED ACP 121(I) i FOREWORD 1. Start studying Economics 12 H. Learn vocabulary, terms, and more with flashcards, games, and other study tools. The economy operates with a huge and growing amount of regulation. The aim of economic regulation is to create a system of incentives and penalties that aim to replicate the outcomes of competition in terms of consumer prices, quality and investment and puts the protection of consumers’ interests at its heart. The government appointed regulators who can impose price controls in most of the main utilities such as telecommunications, electricity, gas and rail transport. Question 5 5 out of 5 points Around the world, government: Answer Selected Answer: Correct Answer: Sometimes cooperates and sometimes is in conflict with business. Question 7 5 out of 5 points Government’s role is to create and enforce laws that: Answer Selected Answer: Correct Answer: Balance the relationship between business and society. The government can deregulate it to increase aggregate supply. At times, the government has extended economic control to other kinds of industries as well. 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