The Practice of Regulating by Setting Uniform Standards,strictly Enforcing Rules,and

question 4

Multiple Choice

The practice of regulating by setting uniform standards,strictly enforcing rules,and using penalties to force compliance is known as:

• A) environmental tax reform.
• B) cap and trade approach.
• C) command-and-control regulation.
• D) market incentive regulation.

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Definitions:

Long Run

A period sufficient for all adjustments to be made, including prices, wages, and resource allocations, in response to economic conditions.

Industrial Policy

Strategies employed by a government to boost the economic growth of its industrial sectors.

Civilian Focus

A policy or approach that primarily addresses the concerns, needs, or participation of the general non-military population.

Industrial Cluster

A geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field, which can drive innovation and productivity.