Author Question: Which of the statements best describes the difference between economic regulation and social ... (Read 67 times)

Lisaclaire · **on:** Jun 29, 2018

Which of the statements best describes the difference between economic regulation and social regulation?

A) There are no significant differences between economic and social regulation, social regulation is a more modern way of regulating an economy.
B) Economic regulation focuses on output and price; social regulation focuses on improving the quality of life.
C) Social regulation focuses on output and price; economic regulation focuses on quality of life issues.
D) Social regulation targets industries like transportation, while economic regulation targets utilities.

Question 2

Normative economic analysis involves

A) true statements of facts only.
B) testable hypotheses by scientists.
C) value judgments and opinions.
D) purely descriptive statements.