When the regulatory process itself becomes a drag on economic growth,society experiences

Question

Quizplus · Accepted Answer

Efficiency costs of regulation refer to the negative impact that regulations can have on the overall efficiency of the economy, such as by slowing down innovation or hindering business expansion. When the regulatory process becomes burdensome and slows down economic growth, it can be said that society is experiencing efficiency costs. Compliance costs, administrative costs, and budgetary costs are all related to the implementation and enforcement of regulations, but do not necessarily imply a drag on economic growth.

When the Regulatory Process Itself Becomes a Drag on Economic