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MMLU-Pro / 7079 / With the emergence of corporate giants, John Kenneth Galbraith theorized a new…

Problem

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question

With the emergence of corporate giants, John Kenneth Galbraith theorized a new version of price regulation. Describe his concept of 'countervailing power'.

category

economics

options

  1. Countervailing power is the economic control exercised by trade unions.
  2. Countervailing power is the influence consumers have through boycotts and advocacy.
  3. Countervailing power eliminates the need for government regulation.
  4. Countervailing power describes the competitive advantage of large corporations.
  5. Countervailing power is the self-regulation by corporations to prevent government intervention.
  6. Countervailing power describes the restraints that are placed on giant corporations in the absence of competition.
  7. Countervailing power refers to the international regulations imposed on multinational corporations.
  8. Countervailing power is the authority of government to nationalize large corporations.
  9. Countervailing power is the power held by small businesses.
  10. Countervailing power represents the balancing effect of monopolies within a free market.

src

stemez-Economics

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