An Enabling Statute Is A(n)

question 305

Multiple Choice

An enabling statute is a(n) :

• A) federal law passed by Congress granting powers to an agency
• B) local law passed by the local legislature granting powers to an agency
• C) state law passed by the state supreme court granting powers to an agency
• D) state law passed by the state legislature granting powers to an agency
• E) unofficial mandate passed by Congress granting powers to an agency

---

Definitions:

Substitution Effect

The change in consumption patterns due to a shift in relative prices that makes one product more economically attractive than another.

Output Effect

The output effect refers to the impact changes in production volume have on a company's total costs and profitability.

Substitute Resource

A resource that can be used in place of another in production processes, often influencing supply and price levels.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, such as labor or capital.