If an Agency Makes a Rule Without Sufficient Evidence to Support

question 17

True/False

If an agency makes a rule without sufficient evidence to support it, the courts could reverse the agency and require the agency to do more work before the rule can become legally effective.

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Definitions:

Price-Fixing Agreement

An illegal arrangement between businesses to set prices at a certain level, typically above market equilibrium, to maximize profits.

Secretly Increasing Sales

The strategy of covertly enhancing a company's sales numbers, possibly through non-transparent marketing tactics or undisclosed discounts.

Collusion

A non-competitive secret or illegal agreement between rivals that attempts to disrupt the market's equilibrium by influencing the market mechanism such as price or output of goods and services.

Economic Recession

A period of significant decline in total output, income, employment, and trade in an economy, usually lasting from six months to a year.