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Exhibit 2A-6
-Exhibit 2A-6 shows the relationship between the price of sodas and the quantities that two families are willing to buy. Suppose that both families are willing to buy more sodas while the soda price remain constant. Which of the following is correct?
Voluntary Compliance
The principle or practice of willingly adhering to laws, regulations, or guidelines without the need for enforcement actions.
Hybrid Rulemaking
A regulatory process that combines elements of both formal rulemaking (with a trial-type hearing) and informal rulemaking (with the notice-and-comment procedure).
Consent Orders
Consent Orders are legal agreements approved by a judge or authority, typically used to resolve disputes without trial, where all parties agree to specific terms.
Judicial Review
The process by which courts examine the actions of the legislative, executive, and administrative arms of the government to ensure they align with the constitution or established law.
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