Which of the following statements best describes the difference between economic regulation and social regulation?
a. Social regulation has historically targeted industries such as railroads and airlines while economic regulation has all the industries under its purview.
b. Economic regulation has little to do with price and output while social regulation explicitly deals with price and output.
c. Economic regulation deals with price and output, while social regulation deals with health and safety matters that apply across several industries.
d. Social regulation is concerned with direct redistribution of wealth while economic regulation is concerned with accumulation of wealth.
e. Economic regulation is concerned with direct redistribution of wealth while social regulation is concerned with accumulation of wealth.
Which of the following statements best describes the difference between economic regulation and social regulation?
a. Social regulation has historically targeted industries such as railroads and airlines while economic regulation has all the industries under its purview.
b. Economic regulation has little to do with price and output while social regulation explicitly deals with price and output.
c. Economic regulation deals with price and output, while social regulation deals with health and safety matters that apply across several industries.
d. Social regulation is concerned with direct redistribution of wealth while economic regulation is concerned with accumulation of wealth.
e. Economic regulation is concerned with direct redistribution of wealth while social regulation is concerned with accumulation of wealth.
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