[Solution] Economics professors Thomas Hopkins and Arthur Gosnell of the Rochester Institute of Technology estimated that in the year 2000, regulations
Question: Economics professors Thomas Hopkins and Arthur Gosnell of the Rochester Institute of Technology estimated that in the year 2000, regulations cost the United States $662 billion, or approximately $5,700 per family.
- Do their findings mean that the United States had too many regulations?
- How would an economist decide which regulations to keep and which to do away with?
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