Under the Administrative Procedures Act,Congress Has the Authority to Cancel

question 57

Multiple Choice

Under the Administrative Procedures Act,Congress has the authority to cancel an agency's final rule if all of the following conditions are met except

• A) both houses agree.
• B) a resolution to overrule is passed within 60 days.
• C) there is no judicial challenge from the courts within 60 days.
• D) the overruling resolution is presented to the president.

Explain the difference between marginal social benefit (MSB) and marginal social cost (MSC).

Analyze scenarios to determine socially optimal levels of public goods and externalities.

Describe the concept of a Pigouvian subsidy and its application for external benefits.

Understand the implications of technology spillover in relation to positive externalities.

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Definitions:

Implementation

The process of putting a decision or plan into effect; execution.

PDCA Cycle

A four-step management method used for the control and continuous improvement of processes and products, standing for Plan-Do-Check-Act.

Develop

The process of improving or enlarging an entity, concept, or skill set through education, training, or experience leading to growth and advancement.

Control

The process by which an organization ensures that activities are being executed according to plan and adjusts as necessary to achieve objectives.