A theory of regulatory behavior, which states that regulators must take into account the preferences of legislators, producers, and consumers, is the
A) capture theory.
B) share-the-gains, share-the-pains theory.
C) public interest theory.
D) general interests theory.
Answer: B
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Explain the relationship between price, short-run marginal cost, short-run average cost and long-run average cost in the final long-run competitive equilibrium condition. What are economic profits in this long-run equilibrium condition?
What will be an ideal response?
Three individuals consume a public good, and their demands are expressed as:
P1 = 1.5 - 0.005Q (for Q < 300 ); P2 = 4.5 - 0.007Q (for Q < 643 ); P3 = 3.0 - 0.002Q (for Q < 1500 ), where P represents price in dollars per unit and Q represents output in units per day. The marginal cost of providing the service is given as a constant $5.00 per unit. Determine the efficient level of output of this public good.
Suppose real money demand is L = 0.8 Y - 100,000 (r + ?e).If the nominal money supply is 12,000, real output is 15,000, the real interest rate is .02, and the expected inflation rate is .01, then the price level is
A. 4/3. B. 3/4. C. 1. D. 3.
Time to maturity refers to the amount of time until
A. a bond can be sold on the secondary market. B. an asset pays interest for the first time. C. an asset repays the principal to an investor. D. the yield curve shows an upward slope.