If ball-bearing producers support proposed regulation of their industry, then it is likely that
a. ball-bearing prices will decrease under regulation
b. profits of firms in the ball-bearing industry will decrease after regulation
c. ball-bearing producers are concerned about the best interests of the public
d. ball-bearing producers will not attempt to influence the adoption of the regulation
e. consumers of ball-bearings will suffer from the proposed regulation
E
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Economic growth comes from ________
A) people willing to increase their skills in which case, economic growth is free B) producing more goods than people want to consume C) capital accumulation and the avoidance of opportunity cost D) capital accumulation and technological advance
The quantity theory of money asserts that inflation is the result of growth in
A) the quantity of money. B) potential GDP. C) the natural rate of unemployment. D) money wage rates.
Explain: "The law of increasing additional cost is an inevitable phenomenon in economics."
What will be an ideal response?
If managers at a firm were rewarded for meeting production quota, then:
A. all managers would just meet the quota. B. all managers would exceed the quota. C. some managers would rebel and not meet the necessary quota. D. some managers would just barely exceed the quota.