Regulatory Policy

What makes enforcing safety standards a challenge for the Food and Drug Administration?

Many foods are imported from other countries, and the FDA must ensure those foods meet the same standards as US goods.

Which explains why government regulation is necessary in a mixed-market economy?

NOT Government regulation protects constitutional rights, profits, and fairness

A purpose of government regulation in a mixed-market economy is to protect

NOT corporate rights

Government regulation is intended to

discourage producers from taking harmful actions.

Regulatory policy requires a balance between protecting safety and

protecting constitutional rights.

A regulatory agency that makes sure banks follow federal laws is

the FDIC.

Which regulatory agencies provide general oversight for the banking industry?

the Fed and the FDIC

In which situation would government regulation most likely be necessary?

A factory requires employees to work in unsafe conditions.

Which statement explains how regulations on prices affect business practices?

Regulations keep prices fair and prevent businesses from establishing monopolies.