Examples of agency addressing social regulation include

The federal minimum wage law demonstrates

a. market equilibrium. b. a societal choice for economic equity over efficiency. c. the function of equilibrium price in a competitive market. d. government intervention to ensure the equilibrium price.

It has been generally observed that most trade in the world occurs between a developed and a less-developed nation rather than between industrial or developed nations

a. True b. False Indicate whether the statement is true or false