Which of the Following Is Not an Argument for Federal

question 3

Multiple Choice

Which of the following is not an argument for federal regulation?

• A)there will be substantial improvement in efficiency due to fewer jurisdictional requirements
• B)there will be less influence over federal regulators by insurance companies
• C)more expertly trained personnel
• D)it will bring more tax money to the federal government

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Definitions:

Wage Rate

The amount of compensation workers receive in exchange for their labor, typically expressed per hour or per unit of work.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts as well as the physical factors of production.

Expansion Path

A curve that shows how the input combinations of a firm change as it increases output, keeping the input ratios constant.

Least-Cost Combination

A production point where the mix of inputs results in the lowest possible cost for a given output level.