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Author Question: Cab drivers operating from JFK Airport to the City of New York legally must charge a specific fare. ... (Read 34 times)

JMatthes

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on: Jun 29, 2018
Cab drivers operating from JFK Airport to the City of New York legally must charge a specific fare. This is an example of
 
  A) social regulation.
  B) economic regulation.
  C) the market share test.
  D) the rate of return test.

Question 2

Explain the role of economic freedom in economic development.
 
  What will be an ideal response?


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Sweetkitty24130

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Economic freedom is a measurement of the extent to which one can pursue economic activity without interference from government. Economic freedom is based upon personal choice, voluntary exchange, and the security of property rights. Economic freedom stimulates economic growth when the markets are competitive. Greater economic freedom encourages investment, which in turn, creates jobs and economic growth.


JMatthes

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

rachel

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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