Which of the Following Statements About Administrative Rule Making Is

question 40

Multiple Choice

Which of the following statements about administrative rule making is FALSE?

• A) All federal rules must be published in the Federal Register.
• B) Both houses of Congress must formally approve all federal rules.
• C) All federal rules must undergo a period of public comment.
• D) All federal rules must prepare "environmental impact statements."
• E) The length of time to develop an administrative rule from proposal to actual publication in the Federal Register increased between the 1970s and 1980s.

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Definitions:

Monopoly Power

The ability of a single seller to control the price and supply of a product or service, largely due to the absence of competition.

Monopsony Power

The market power held by a single buyer, allowing it to influence the market price or terms of purchase to its advantage.

Bilateral Monopoly

A market situation involving one seller and one buyer, leading to unique negotiation dynamics over prices and quantities.

AE Curve

The AE curve represents the Aggregate Expenditure in an economy at various levels of income or output, showing the total spending (consumption, investment, government spending, and net exports) at those levels.