ECON 112 Exam 4 FED Modules Questions with complete solution 2023/2024

ECON 112 Exam 4 FED Modules Questions with complete solution 2023/2024People with licenses want less strict licensing laws. - correct answer False In the 1950s, _____ Americans worked in fields that required licenses. Today, this number has become _____. - correct answer 1 in 20; 1 in 3 How can licensing laws make it more difficult for people to earn income? - correct answer It can be expensive and take a long time to fulfill the training requirements for licenses. What is a negative effect of licensing laws? - correct answer Licensing laws limit competition, resulting in fewer providers and higher prices. When professionals want to protect their business from competition, they often go to the state legislature and make the following argument: - correct answer We are really dangerous, and you need to protect the public from us. What is a positive effect of licensing laws? - correct answer Licensing laws can protect consumers from unqualified and unsafe workers. How did competition change the sewage situation in Senegal? - correct answer More consumers are hiring toilet suckers, which means less sewage dumped in the streets.