Asked by
Caitlin Lewis
on Nov 26, 2024
Verified
A labor market application of the legal cartel theory of regulation would be
A) unemployment benefits.
B) the Full Employment Act.
C) Equal Employment Opportunities provisions.
D) occupational licensing.
Legal Cartel Theory
A concept that explores the legality and economic implications of a group of firms controlling the market by regulating prices and output like a cartel.
Occupational Licensing
The laws of state or local governments that require that a worker satisfy certain specified requirements and obtain a license from a licensing board before engaging in a particular occupation.
- Understand the legal and economic rationales behind different forms of industry regulation and intervention.
Verified Answer
CG
Learning Objectives
- Understand the legal and economic rationales behind different forms of industry regulation and intervention.
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