Which of the following statements can correctly be made about social regulation?
I. Extensive social regulation may have an anticompetitive effect.
II. The benefits of social regulation are easier to measure than are the costs of social regulation.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
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When drawn against current income, the slope of the Cd (r) + Id (r) + G curve is equal to the marginal
A) product of capital. B) product of labor. C) propensity to consume. D) propensity to save.
The demand function for tickets to Ireland is expressed as
Qd = 1600 - 0.005P + 2 PEngland + 3rain + 2Y, where P is the price for tickets to Ireland, PEngland is the price of tickets to England, rain is the inches of rain Ireland receives annually, and Y is annual household income. Assuming PEngland is $1000, rain is 30 inches per year, and income is 40,000, how much would the price of tickets to Ireland have to fall for consumers to be willing to buy one more trip per year? A) $15 B) $20 C) $50 D) $200
Answer the following questions true (T) or false (F)
1. Direct finance refers to the flow of funds from savers to borrowers through financial markets. 2. The interest payment on a bond is called a face value payment. 3. The higher the default risk on a bond, the higher the interest rate will be.
The word "final" in the definition of GDP refers to
A) not counting intermediate goods or services. B) the time period when production took place. C) valuing production at market prices. D) counting the intermediate goods and services used to produce GDP.