The Natural Gas Turbine Is Considered a Driver of Globalization

question 44

Multiple Choice

The natural gas turbine is considered a driver of globalization because the turbine

• A) increases efficiency, moving goods from place to place.
• B) was developed in the United States.
• C) is associated with increased transportation costs.
• D) increases the labor input and decreases unemployment.

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Definitions:

Contestable Market

A market with no barriers to entry or exit, where a company's prices and output are constrained by the threat of new entrants or competition rather than by existing competitors alone.

Public Interest Theory

A theory suggesting that regulations are created in response to the public's demand for fair and efficient markets.

Industrial Regulation

The older and more traditional type of regulation in which government is concerned with the prices charged and the services provided to the public in specific industries. Differs from social regulation.

Regulated Monopolies

Monopolies that are allowed to exist by the government but with restrictions and oversight to protect consumers' interests.