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What is the relationship between market regulation of itself and government regulation of markets? a. government regulation makes markets more competitive b. There is no relationship between them c. Government regulation of markets supplants market regulation of itself d. government regulation is constantly innovating because of the competition it faces An important element to smoothly working markets is secure and stable property rights. Select one: True False A key characteristic of fortresses is a. free trade among all parties b. dramatic improvements in quality of service due to extreme competition c. regulations on safety that limit who can provide services d. there is extreme price competition Frontier markets are characterized by a. occupational licensing laws b. businesses established in the western U.S. c. governmental institutions that promote freedom of action d. governmental regulations to promote safety and low-risk activities Governmental regulation is popular because without fail this regulation meet its goals of reducing risk and increasing safety beyond what markets could produce without the regulation. Select one: True False