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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Here is a second hypothesis: A well-funded social safety net may lead to less regulation of the market economy. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.

To determine

A well-funded social may lead to less regulation of the market economy.

Explanation

A well-funded social safety net can make people carefree that even if they would lose their jobs or need to change industries, or go bankrupt, they will have some level of backup or protection. This is because the government and the state have indulged in activities to build the society as well as the economy and bring the society above poverty line.

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