Which of the Following Statements Is Least True Regarding Institutions

question 3

Multiple Choice

Which of the following statements is least true regarding institutions?

• A)Institutions can involve formal regulation of firms by governmental agencies
• B)Institutions can involve formal regulation of firms by nongovernmental regulatory organizations
• C)Institutions can be less formal and involve ongoing power/dependence relationships between firms
• D)Institutional arrangements may embody general patterns of values,beliefs,ad behavioral norms that motivate and stabilize affected firms
• E)None of the above

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Definitions:

Excess Burden

The cost to society created by market inefficiency, particularly through taxation or other government policies, beyond the immediate financial effects.

Tax Revenue

The income that is gained by governments through taxation, which is used to fund public services and infrastructure.

Total Burden

The complete impact, often financial or economic, borne by an entity or system as a consequence of a particular action or policy.

Partnerships

A lawful business structure involving two or more people who jointly manage and distribute earnings.