Industries that lobby public officials for favorable treatment, softer regulation, and or antitrust exemption are engaged in rent-seeking.
Answer the following statement true (T) or false (F)
True
You might also like to view...
A demand curve can be thought of as
A. a graphical display of “market potential.” B. a graphical representation of the information in a demand schedule. C. showing how much people want to buy. D. a forecasting tool. E. All of these responses are correct.
The figure illustrates the market for bagels. If the number of bagels is cut from 20 to 10 an hour, the deadweight loss is ________
A) $0.50 a bagel B) -$5.00 an hour C) $0 an hour D) $5.00 an hour
Which of the following is not correct?
a. In the short run, policymakers face a tradeoff between inflation and unemployment. b. Events that shift the long-run Phillips curve right shift the long-run aggregate supply curve left. c. Unemployment can be changed only by the use of government policy. d. The decrease in output associated with reducing inflation is less if the policy change is announced ahead of time and is credible.
The formal and informal rules governing the organization of a society on the whole, including its laws and regulations, are referred to as:
A) organizational structure. B) religious norms. C) cultural scenario. D) institutions.