The social interest theory of regulation is that
A) regulators help producers maximize economic profit.
B) regulation seeks to increase the government's revenue.
C) regulation causes producers to produce at a point where they are earning normal profits.
D) regulation seeks an efficient use of resources.
E) regulation focuses on the consumers' interests and ignores producers' interests.
D
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The aggregate demand curve shows the ________ relationship between the price level and ________
A) positive; the quantity of real GDP demanded B) negative; aggregate labor demanded C) positive; aggregate labor demand D) negative; the quantity of real GDP demanded
Suppose you decide to borrow money from an online peer-to-peer lending site
On the T-account for the lending site for this transaction, the funds from the investor who chooses to fund the loan would be classified as ________, and the loan made to you would be classified as ________. A) a liability; an asset B) an asset; a liability C) an asset; an asset D) a liability, a liability
Specializing in the production of a good or service in which one has a comparative advantage enables a country to do all of the following except
A) engage in mutually beneficial trade with other nations. B) produce a combination of goods that lies outside its own production possibilities frontier. C) consume a combination of goods that lies outside its own production possibilities frontier. D) increase the variety of products that it can consume with no increase in resources.
Which of the following is an aim of a price-fixing agreement?
a. Reducing entry barriers b. Increasing profit c. Reducing price d. Increasing demand