Questions and Answers
Regulatory agencies such as the OCC and the FDIC add ___ to the banking system.
safety
A purpose of government regulation in a mixed-market economy is to protect?
property rights
A regulatory agency that protects workers is?
OSHA
A goal of financial regulatory agencies is to?
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Which regulatory agencies provide general oversight for the banking industry?
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Which most likely explains why the costs and benefits shown by the EPA are higher than the other regulatory agencies?
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A regulatory agency that makes sure banks follow federal laws is?
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Which are duties of OSHA? (Check all that apply)
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In which situation would government regulation most likely be necessary?
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Government regulation is intended to?
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Study Notes
Regulatory Agencies and Safety
- Regulatory agencies like the OCC (Office of the Comptroller of the Currency) and FDIC (Federal Deposit Insurance Corporation) enhance safety in the banking system.
Purpose of Government Regulation
- Protecting property rights is a fundamental purpose of government regulation in a mixed-market economy.
Worker Protection Agency
- OSHA (Occupational Safety and Health Administration) is the regulatory agency dedicated to protecting workers.
Goal of Financial Regulators
- One main goal of financial regulatory agencies is to prevent monopolistic practices within the market.
Banking Industry Oversight
- The Federal Reserve (the Fed) and FDIC provide essential oversight of the banking industry to ensure stability and compliance.
EPA's Regulatory Impact
- The Environmental Protection Agency (EPA) faces higher costs and benefits due to its extensive regulation, which yields greater environmental benefits compared to other regulatory agencies.
Compliance Monitoring
- The FDIC is responsible for ensuring that banks adhere to federal laws governing financial practices.
OSHA Duties
- OSHA is tasked with investigating worker complaints and inspecting businesses to ensure compliance with safety regulations.
Necessity of Regulation
- Government regulation is often necessary in situations where employee safety is compromised, such as factories forcing workers into unsafe conditions.
Intent of Government Regulation
- The primary intent of government regulation is to deter producers from engaging in harmful practices that could affect consumers or the environment.
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Description
Test your knowledge of regulatory agencies and their functions with these flashcards. Explore key concepts such as safety, property rights, and the roles of different agencies in the financial sector. Perfect for students and professionals looking to understand regulatory policy.
