Command-And-Control Legislation, as Compared to Incentive-Based Regulation

question 5

Multiple Choice

Command-and-control legislation, as compared to incentive-based regulation:

• A) encourages the use of comparative advantage in the short run, and the development of new technology in the long run.
• B) encourages the use of comparative advantage in the short run, but discourages the development of new technology in the long run.
• C) discourages the use of comparative advantage in the short run, but encourages the development of new technology in the long run.
• D) discourages the use of comparative advantage in the short run, and discourages the development of new technology in the long run.

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Definitions:

Responsibility

The state or fact of having a duty to deal with something or of having control over someone, often with accountable outcomes.

Organisational Design

The process of structuring an organisation's roles, responsibilities, and relationships to achieve its goals and objectives efficiently.

Bureaucratic Designs

Organizational structures that are characterized by clear hierarchies, division of labor, strict regulations, and formal procedures.

Adaptive Designs

Flexible approaches in experimental research that allow for adjustments while the experiment is ongoing, primarily based on interim results.