Which of the Following Agencies Is Best Known for Decision

question 27

Multiple Choice

Which of the following agencies is best known for decision making through adjudication rather than through rule making?

• A)Federal Trade Commission
• B)Occupational Safety and Health Administration
• C)Department of Transportation
• D)Internal Revenue Service
• E)Government Accountability Office

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Definitions:

Opportunity Cost

The price paid for not choosing the next most favorable option when a decision is made.

Absolute Advantage

A situation in which a person or economy can produce more of a good with the same amount of resources as someone else.

Inputs

Resources such as labor, raw materials, and capital that are used in the production process to create goods or services.

Gain From Trade

The benefit obtained by countries, organizations, or individuals from engaging in exchange or trade.