What Did Congress Do in 1995 to Reduce Overregulation

question 14

Multiple Choice

What did Congress do in 1995 to reduce overregulation?

• A)It cut funding for regulatory agencies like the EPA and Securities and Exchange Commission.
• B)It passed the Airlines Deregulation Act,which eliminated government-set airfares and the requirement that airlines provide service to smaller-sized cities.
• C)It restricted the president's ability to directly request administrative regulations from agency heads.
• D)It cut the budget of the Food and Drug Administration.
• E)It enacted legislation that prohibits administrators in some instances from issuing a regulation unless they can show that its benefits outweigh its costs.

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Definitions:

Disability Insurance

A type of insurance coverage that provides income in the event a worker is unable to perform their job due to a disability.

Fair Bet

A gambling term where the expected winnings are equal to the expected losses, meaning the bet has no advantage for either the house or the gambler.

Expected Utility

A concept in economics and decision theory that represents the average of all possible outcomes under uncertainty, weighted by their respective probabilities and the utility or satisfaction each outcome provides.

Marginal Utility

The additional satisfaction or benefit a consumer gains from consuming one more unit of a good or service.