There Has Always Been a Strong Reaction in the United

question 71

Multiple Choice

There has always been a strong reaction in the United States to any form of industrial policy because:

• A)It reduces the market's efficiency.
• B)It conflicts with the widely held view of goverrnnent's role in the economy.
• C)Existing attempts to form industrial policies have generally been irrational and uncoordinated.
• D)Industrial policies violate anti-trust legislation.

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Definitions:

Natural Variations

Random fluctuations in the output or process of a system that are inherent and unavoidable.

Consumer's Risk

The probability that a defective product will pass through a quality inspection process and reach the consumer.

Defects

Imperfections, faults, or flaws in a product or process that deviate from the desired specifications or standards.

C-chart

A control chart used for monitoring the number of defects per unit in manufacturing or production processes.