One Purpose of the Administrative Procedure Act Is to __________

question 78

Multiple Choice

One purpose of the Administrative Procedure Act is to __________.

• A) ensure opportunities for public participation in the rule-making process
• B) give federal agencies greater discretion in the rule-making process
• C) streamline bureaucratic activities in the rule-making process
• D) give the president greater control over the rule-making process
• E) discourage agencies from drafting new regulations

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Definitions:

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Inverted U-Theory

A hypothesis that suggests a relationship between any given variable and a factor of interest initially increases, reaches an optimal level, then declines.

R&D Expenditures

Refers to spending on research and development activities by governments, businesses, or other organizations to innovate or improve products and services.

Economies of Scale

The economic benefits companies achieve through expanding their scale of activity, as the cost for every unit of output falls with the growth in scale.