A basic contention of supply-side economists is that we should reduce the regulation of the production process.

Question

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Supply-side economists believe that reducing regulation on the production process will lead to increased production and economic growth. They argue that regulations add costs to businesses, which can lead to lower profitability and less investment in new projects. By reducing regulation, they believe that businesses will have more resources available to invest in research, development, and expansion, ultimately leading to increased economic growth.

A Basic Contention of Supply-Side Economists Is That We Should