Question
One reads in the newspaper: Today the president and Congress stiffened the requirements that child care providers must meet before they can offer their services
One reads in the newspaper: "Today the president and Congress stiffened the requirements that child care providers must meet before they can offer their services for sale." As a result, an economist would predict that
a. | the supply of child care services will increase, thus lowering the price of child care services. | |
b. | the supply of child care services will be unaffected by the stiffer requirements and therefore the price of child care services will not change. | |
c. | the demand for child care services will fall because people who buy child care services do not want stiffer requirements placed on child care providers. | |
d. | the supply of child care services will decrease, thus raising the price of child care services. | |
e. | none of the above |
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