Ideally, Members of Regulatory Boards Should Be Experts on the Problems

question 7

Multiple Choice

Ideally, members of regulatory boards should be experts on the problems of the industry being regulated, therefore staff members and board members are

• A)often recruited from the industry being regulated.
• B)temporary appointees and often return to the industry being regulated after serving in the administrative agency.
• C)frequently paid more in private industry than as employees of regulatory agencies.
• D)all of the above

---

Definitions:

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, usually visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Automatic Stabilizers

Economic mechanisms, such as progressive taxation and welfare, that automatically adjust to counteract economic fluctuations without the need for explicit government intervention.

Unemployment Compensation

A government program that provides financial assistance to individuals who have lost their jobs through no fault of their own.

Public Debt

The total amount of money that a government owes to creditors, typically as a result of borrowing to finance its expenditures.