Which statement is false?
A. Health and safety regulations diverted resources from investment.
B. Higher energy costs stimulated economic growth.
C. Environmental protection legislation slowed economic growth.
D. Government regulation has increased the cost of doing business.
B. Higher energy costs stimulated economic growth.
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Michigan Radio is the state's most listened-to public radio service, attracting approximately 400,000 listeners each week. How would Michigan public radio best be classified?
A) as a private good B) as a common resource C) as a natural monopoly D) as a public good
Write out the expression for the Taylor rule. Use the Taylor rule to explain how a decline in real GDP below potential GDP will affect the Federal Reserve's target for the federal funds rate
What will be an ideal response?
One key purpose of economic regulation is
A) to force a firm to produce at the point at which marginal cost equals marginal revenue. B) to control the quality of service provided by a monopolist. C) to control the price that regulated enterprises are allowed to charge. D) to focus on the impact of production on the environment and society, the working conditions under which goods and services are produced, and sometimes the physical attributes of goods.
Under a perfectly competitive price system:
a. an equitable allocation of the available resources will always result. b. there is no opportunity for individuals to trade amongst themselves. c. there is no reason to expect that voluntary trading will result in an equitable allocation of the available resources. d. none of the above.