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When Members of Congress Wait Until There Is a Crisis

question 67

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When members of Congress wait until there is a crisis before taking action in addressing problems in the bureaucracy, they are engaged in


Definitions:

Labor

The physical and mental effort used in the production of goods and services.

Physical Capital

Manufactured productive resources, such as buildings and machines; often referred to simply as “capital.”

Factor Market

A marketplace for the services of a factor of production, such as labor, capital, or land.

Labor

Human effort, whether physical or mental, used in the production of goods and services.

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