Suppose You Are a Plumber and Plumbers Are Not Required

question 173

Multiple Choice

Suppose you are a plumber and plumbers are not required to be licensed.A government official proposes to license plumbers,with practicing plumbers automatically receiving a license.Under the proposal,new plumbers would have to pass a challenging test in order to receive a license.If the proposed law passes,you can expect

• A)plumbing errors to become a thing of the past.
• B)much additional competition as new entry occurs.
• C)increased respect for your profession.
• D)greater market power and less competition.
• E)lower prices for plumbing services.

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Definitions:

Residential

Relating to a place of dwelling or living, typically used to describe homes or communities intended for living rather than commercial or industrial use.

Chain of Title

The sequence of historical transfers of title to a piece of property or land; a record tracing the ownership back through time.

Sworn Document

A document that has been affirmed or declared to be true in the presence of a legally authorized official, often under oath or penalty of perjury.

Legal Action

A process of pursuing a lawsuit or judicial proceedings to resolve disputes or enforce legal rights.