Firms maintain their completive edge by
a. Providing a good at lower costs than their rivals
b. Providing a superior product at the same cost as your rival
c. Being innovative
d. All the above
d
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In the above figure, CBL is the cost of breaking the law. If the good in the figure is made illegal and penalties are imposed on both buyers and sellers, then its price per unit
A) will be higher than if it was not illegal. B) will be lower than if it was not illegal. C) will be the same as when it was not illegal. D) cannot be compared with its price when it was legal.
Which of the following policy measures authorized investors to bring lawsuits against credit-rating agencies for a reckless failure to get the facts when providing a credit rating?
A) the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 B) Sarbanes-Oxley Act of 2002 C) Global Legal Settlement of 2002 D) Gramm-Leach-Bliley Act of 1999 E) Riegle-Neal Act of 1994
Higher standards of living are the result of
a. an increase in the general level of prices. b. trade restrictions that favor domestic industries over foreign competition. c. an increase in the availability of goods and services that people value. d. government subsidies that expand employment.
A change in which of the following variables will have no direct effect on the level of domestic demand?
A) domestic income B) the real exchange rate C) government spending D) the interest rate (r) E) none of the above