The Regulatory Flexibility Act Requires That Whenever a New Regulation

question 67

Multiple Choice

The Regulatory Flexibility Act requires that whenever a new regulation will have a significant impact on a substantial number of small businesses,the issuing agency must do all of the following EXCEPT

• A)measure the cost that the rule will impose on small businesses.
• B)consider less burdensome alternatives.
• C)conduct a regulatory flexibility analysis.
• D)adjust the rule to the satisfaction of the regulated businesses.

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Definitions:

Monopolistic Competition

A market structure characterized by many firms offering similar but not identical products, allowing for competition based on quality, price, and marketing.

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more attractive to a specific target market.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services within a market.

Bait-and-Switch

A deceptive marketing practice where customers are lured by an advertisement for a low-priced item but then are persuaded to buy a more expensive item.