All of the following are true EXCEPT
a. President Reagan was the first U.S. president to call for the use of economic criteria when evaluating policy
b. President Reagan’s Executive Order 12291 required the use of a Regulatory Impact Analysis (RIA) when major regulations were being considered
c. During his presidency, Clinton did not issue any executive order to continue Reagan’s commitment to using economic criteria in policy evaluation
d. President Obama issued an executive order to support and expand upon President Clinton’s executive order requiring benefits to justify the costs of a significant regulation
c. During his presidency, Clinton did not issue any executive order to continue Reagan’s commitment to using economic criteria in policy evaluation
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The money demand curve has a
A) positive slope because an increase in the price level increases the quantity of money demanded. B) negative slope because an increase in the interest rate decreases the quantity of money demanded. C) negative slope because an increase in the price level decreases the quantity of money demanded. D) positive slope because an increase in the interest rate increases the quantity of money demanded.
Economic rent is the portion of a resource's total earnings that:
a. exceeds its actual cost b. exceeds it marginal cost c. exceeds its opportunity cost d. exceeds it average total cost
A firm estimates its long-run production function to beQ = -0.0075K3L3 + 12K2L2Suppose the firm employs 12 units of capital. At ________ units of labor, average product of labor begins to diminish.
A. 32.21 B. 76.66 C. 82.27 D. 66.67 E. 44.44
A consumer price index that has had the impact of having food and energy prices removed is the
A. CPI. B. core CPI. C. PCE. D. Producer Price Index.