What is an example of regulation in the automobile industry?

The ‘example of regulation’ in the ‘automobile industry’ is the introduction of ‘fuel-efficiency standards’ for cars. There are new technology innovations with the ‘installation of satellite radio systems’ in some cars.Click to see full answer. Also, which is an example of regulation in the automobile?The term regulation is used in economics to denote the placing of limits or restrictions on business activity by government. An example of regulation in the automobile industry is the creation of fuel-efficiency standards for cars. The standards in this case are the limits and the guidelines.Additionally, who regulates car safety in the US? Established by the Highway Safety Act in 1970, NHTSA is the federal agency responsible for regulating traffic and vehicle safety. Then, how does the government regulate cars? At the federal level, automobiles and auto parts are regulated by two agencies: the National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency (EPA). NHTSA oversees vehicle-safety issues. The EPA regulates vehicle emissions.How does the automotive industry affect the economy?The Economic Impact of the Automotive Industry. In 2018, the U.S. automotive industry contributed 2.7% to U.S. gross domestic product. That’s $545.4 billion out of the total $20.5 trillion produced. Of that, $327.1 billion was auto manufacturing and $218.3 billion was vehicle retail sales.

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