Any Unnecessarily Complex Set of Procedures in the Bureaucracy Is

question 100

Multiple Choice

Any unnecessarily complex set of procedures in the bureaucracy is called________.

• A) a regulation
• B) rule making
• C) red tape
• D) an unavoidable problem

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Definitions:

Wage Decrease

A reduction in the hourly, daily, or monthly compensation that workers receive for their labor.

Utility Maximizing

The principle or practice of choosing the combination of goods and services that provides the highest level of satisfaction or utility to an individual.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding other factors constant.

Marginal Product

The additional output produced as a result of utilizing one more unit of a particular input, holding all other inputs constant.