Economists generally prefer direct regulation to incentive-based programs because explicit regulation tends to be more efficient.
Answer the following statement true (T) or false (F)
False
Direct regulation is not generally as efficient as incentive-based programs.
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In 2004, hurricanes damaged a large portion of Florida's orange crop. As a result of this, many orange growers were not able to supply fruit to the market
If, following the hurricane, the price remained at its pre-hurricane level, we would expect to see A) a surplus of oranges. B) a shortage of oranges. C) an increase in the demand for oranges. D) the quantity demanded equal to the quantity supplied.
A statistical analysis is internally valid if
A) its inferences and conclusions can be generalized from the population and setting studied to other populations and settings. B) statistical inference is conducted inside the sample period. C) the hypothesized parameter value is inside the confidence interval. D) the statistical inferences about causal effects are valid for the population being studied.
Effective collusion generally is more difficult as the number of oligopolistic firms involved increases
a. true b. false
When a union successfully raises the wages of its members, it will also
a. increase total productivity, which will generally increase in proportion to the wage rate. b. encourage employers to purchase more of the union labor. c. increase the share of income allocated to labor as opposed to capital. d. increase the employer's incentive to find substitutes for union labor.