The capture theory of regulation implies that
A) regulations promote the attainment of efficiency.
B) regulations promote the attainment of economic profit.
C) public officials favor voters over producers.
D) the demand for regulation is less elastic than the supply.
B
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For the past 40 years the Federal Reserve has expressed policy in terms of a target value for:
A. open market operations. B. bank reserves. C. the Federal Reserve discount rate. D. the federal funds rate.
Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine.
The private market equilibrium quantity is ________ doses per day.
A. 75 B. 100 C. 125 D. 50
The steeper the short-run aggregate supply curve, _____
Fill in the blank(s) with the appropriate word(s).
The marginal cost curve of a firm measures
A) external costs. B) pollution costs. C) private costs. D) social costs.