The Public Choice Theory of Regulation States That a Regulatory

question 155

Multiple Choice

The public choice theory of regulation states that a regulatory agency makes decisions based on

• A)surveys of what the public believes is in the best interest.
• B)its own conception of what is in the public's best interest.
• C)how these decisions affect the well-being of the agency itself.
• D)how these decisions affect the economic profits of the regulated firms.

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Definitions:

Trusting

The act of believing in the reliability, truth, ability, or strength of someone or something without requiring constant proof or evidence.

Extraversion

A personality trait characterized by outgoing, talkative, and socially confident behaviors.

Outgoing

Characterized by an open, friendly, and socially confident behavior, often actively seeking social interaction.

Sociable

A personality trait or characteristic of someone who enjoys socializing and engaging in activities with others.