You Are Trying to Classify the Various Organizations That Operate

question 26

Multiple Choice

You are trying to classify the various organizations that operate within the executive branch. How can you identify an independent regulatory agency?

• A) It exists within a major cabinet department and is responsible for creating rules and regulations within a specific policy area.
• B) It exists within a major cabinet department and is responsible for creating rules and regulations across a variety of policy areas.
• C) It exists outside of a major cabinet department and is responsible for creating rules and regulations within a specific policy area.
• D) It exists outside of a major cabinet department and is responsible for creating rules and regulations across a variety of policy areas.
• E) It exists within a major cabinet department and is responsible for creating rules and regulations subject to the approval of the Senate.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a marketplace, determined by the forces of supply and demand.

Units

Basic quantities or measurements, such as liters, meters, or kilograms, used to specify magnitudes of physical quantities.

Supply Curve

A graph showing the relationship between the price of a good and the amount of the good that suppliers are willing to sell, holding other factors constant.

MC Curve

A graphical representation of how the cost to produce one additional unit (marginal cost) changes as production increases.