The Correspondence or Agreement Between the Information and the Actual

question 42

Multiple Choice

The correspondence or agreement between the information and the actual events or objects that the information represents is known as

• A) accuracy
• B) completeness
• C) neutrality
• D) comparability

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Definitions:

Lemon Laws

Statutes designed to protect consumers from purchasing defective vehicles that fail to meet quality and performance standards.

Negative Externalities

Unintended and adverse side effects suffered by third parties or the environment as a result of economic activities.

Direct Controls

Government policies that directly constrain activities that generate negative externalities. Examples include maximum emissions limits for factory smokestacks and laws mandating the proper disposal of toxic wastes.

Economic Efficiency

A situation where resources are allocated in a way that maximizes the net benefit to society or achieves the desired output with the least waste.