Regulation that keeps the rate of return in the industry competitive is known as
A. deregulation.
B. social regulation.
C. cost-of-service regulation.
D. rate-of-return regulation.
Answer: D
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Urbanization is measured by:
A) the ratio of the population living in urban areas to the ratio of the people living in rural areas in a country. B) the fraction of the population living in towns with a population of more than 5,000. C) the fraction of the population living in towns with a population of more than 1,000. D) the ratio of the population living in rural areas to the ratio of the people living in urban areas in a country.
Suppose Renee can increase her total utility from consuming video rentals and books by buying one more book and renting one fewer video. Which of the following is true?
A) The marginal utility of video rentals is negative. B) The marginal utility of the last book consumed exceeds the marginal utility of the last video rental consumed. C) The marginal utility of the last video rental consumed exceeds the marginal utility of the last book consumed. D) The marginal utility per dollar spent on books exceeds that of video rentals.
Observations of consumer behavior suggest that when the price of gasoline rose above $3.50 per gallon, consumer demand for gas became considerably more price elastic
Indicate whether the statement is true or false
A government subsidy is typically used
A) to correct a negative externality. B) to provide a government-inhibited good. C) to reduce inflation. D) to correct a positive externality.