The effectiveness of regulation is sometimes criticized because:
A. Regulators try to please everybody
B. Of the high profits in regulated industries
C. Regulators don't know how to regulate industries
D. Regulators usually have been closely associated with the industries they regulate
D. Regulators usually have been closely associated with the industries they regulate
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Refer to the above figure. Suppose that the economy was originally at point A, and then it reached point C by means of a fiscal policy action. Which of the following is correct?
A) Point C is both a short-run equilibrium and a long-run equilibrium that could have been attained through an increase in government spending. B) Point C is a short-run equilibrium that could have been attained through a reduction in government spending, but in the long run the economy will end up at point B. C) Point C is a short-run equilibrium that could have been attained through a tax cut, but in the long run the economy will end up at point B. D) Point C is a long-run equilibrium that could have been attained through a tax increase, although reaching this point first required a short-run equilibrium at point B.
Suppose France's real GDP grew from $750 billion in 2010 to $821 billion in 2011. What was the growth rate of France's real GDP?
A) 10 percent B) 9.5 percent C) 9.1 percent D) 8.6 percent E) $71 billion
Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 2 ice cream cones?
A) $1.50 B) $3.00 C) $5.50 D) $6.50
The manner in which FDIC deposit insurance is set up in the United States encourages banks to
A) make riskier loans than they otherwise would. B) reject some loans that probably would be profitable. C) be too conservative in their lending practices. D) maintain excess reserves that are too great.