For Many Years,Congressman Ricardo Perez Has Called for More Government

question 233

Multiple Choice

For many years,Congressman Ricardo Perez has called for more government regulation of business."After all," the Congressman said recently,"businesspeople are out to make a profit,not to create jobs or serve their customers.The government must pass more laws to require businesses to take the interests of consumers and workers into account." From these comments,it is clear that Congressman Perez:

• A)Agrees with the ideas of Thomas Malthus.
• B)Does not accept the "invisible hand" idea brought forth by Adam Smith.
• C)Is unaware of the fact that most businesses in the United States are owned by the government.
• D)Does not realize that government regulation is already the main determinant of business decisions in capitalist economies.

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Definitions:

Law Of Large Numbers

A principle that describes the result of performing the same experiment a large number of times, indicating that the average of the results obtained will be close to the expected value, and will tend to become closer as more trials are performed.

Uncertain Situations

A condition where the outcomes or consequences of an event are not known or predictable.

Diversification

A strategy for managing risk that involves diversifying the portfolio by incorporating a broad array of investments.

Uncertain Situations

Scenarios in which outcomes or conditions are not known, predictable, or completely measurable, often affecting decision making.