Executive-Branch Agencies May Not Always Enforce Laws as Congress and the President

question 27

Multiple Choice

Executive-branch agencies may not always enforce laws as Congress and the president prefer. This is an example of a ________.

• A) free-rider problem
• B) principal-agent problem
• C) prisoner's dilemma
• D) social choice problem
• E) coordination problem

---

Definitions:

Perfectly Competitive Market

A market structure characterized by an infinite number of buyers and sellers, identical products, no barriers to entry or exit, and perfect information among all participants.

Short-run Industry

A period in which at least one factor of production is fixed, and firms can only partially adjust their production levels.

Game-day T-shirts

Merchandise specifically designed and sold for sporting events, often featuring team logos or slogans to support the team.

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, homogenous products, and perfect information.