One Result of the Gramm-Leach-Bliley Act Has Been

question 37

Multiple Choice

One result of the Gramm-Leach-Bliley act has been:

• A) the separation of banks and insurance companies
• B) greater consistency of agent licensing requirements across state lines
• C) increased restrictions on where agents and insurers may operate
• D) both A and C

Discuss the implications of minimum wage policies and their impact on employment and economic welfare.

Examine the role of government programs in affecting market prices and distribution of economic welfare.

Understand the concepts of tax incidence and how it affects market outcomes.

Analyze factors determining the actual benefit of government subsidies.

---

Definitions:

Infant Industry

A new or emerging industry that may be protected by the government from international competition to allow it to grow.

Technological Efficiency

A measure of the effectiveness with which a technology converts inputs into outputs, often seen as achieving the maximum productivity with the least waste.

Silicon Chip

A small piece of silicon that contains integrated circuits used in electronic devices for processing or storage.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.