Which of the Following Is NOT an Example of an Independent

question 2

Multiple Choice

Which of the following is NOT an example of an independent regulatory agency?

• A) National Labor Relations Board
• B) Federal Reserve System Board of Governors
• C) Social Security Administration
• D) Environmental Protection Agency
• E) Equal Employment Opportunity Commission

---

Definitions:

Production Possibilities Frontier

A graph that shows the various combinations of output that an economy can possibly produce, given the available factors of production and the available production technology.

Trade-Off

A choice made in a given situation where one aspect of a set or design is reduced or forfeited to improve other elements.

Opportunity Cost

The dropping of possible gains that could come from other alternatives when a specific one is chosen.

Production Technology

The methods and processes used to convert inputs into outputs (goods or services).