The Department of Homeland Security Has Been Given the Responsibility

question 123

Multiple Choice

The Department of Homeland Security has been given the responsibility for the construction of a fence along the border between the United States and Mexico. The Department has not followed the 30-day comment rule on the composition and location of the proposed fence. Secretary Chertoff says that the fence is a matter of national security. The Department:

• A) has not complied with the rulemaking requirements and cannot proceed with the fence.
• B) is using the emergency exception for the time waiver on rulemaking.
• C) does not have the authority to waive the time requirements.
• D) both a and c

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Definitions:

Expected Revenue

Refers to the forecasted amount of money a business expects to receive from sales over a certain period.

Sealed-Bid

A bidding process where all bidders submit their bids simultaneously in sealed envelopes, without knowing the bid amounts of other participants.

Lemons

In economics, refers to products of lower quality that cannot be distinguished from higher quality products before purchase, derived from the market for used cars analyzed by George Akerlof.

Expected Value

A statistic that measures the mean, or average, outcome of a set of probabilities or a random variable.