Regulation of monopolies is justified on the ground that a monopolist sells too less at a too high price
a. True
b. False
Indicate whether the statement is true or false
True
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When economic analysis takes place within the context of maximizing a social welfare function, the conclusion always is _____
a. that income should be completely redistributed b. that income should not be redistributed at all c. that some level of redistribution is optimal d. that income redistribution has no relations to maximizing social welfare
Under a managed float, if U.S. GDP suddenly increased, which of the following actions would the Bank of England need to take in order to stop any movement in the dollar-pound exchange rate?
a. Buy British pounds for dollars in order to shift the demand curve for pounds leftward b. Sell British pounds for dollars in order to shift the supply curve for pounds leftward c. Sell British pounds for dollars in order to shift the supply curve for pounds rightward d. Buy British pounds for dollars in order to shift the demand curve for pounds rightward e. Do nothing, since purchasing power parity will correct the situation in the short run.
Table 19.2Quantity ConsumedTotal UtilityMarginal Utility115152 9330 4 3In Table 19.2, the total utility when two units are consumed is
A. 6. B. 9. C. 24. D. 15.
Suppose Social Security contributions rise by $5 billion while Social Security benefits also rise by $5 billion. Further, personal income taxes fall by $700 million. As a result
A. disposable income should increase while personal income and national income are unchanged. B. both personal and disposable personal income should increase. C. national income, personal income, and disposable income should increase. D. personal income, disposable personal income, and national income remain unchanged.