"Regulatory capture" refers to the situation where a government agency charged with supervising and regulating a particular industry is:
A. Strongly influenced by the firms in that industry
B. Headed by bureaucrats who have a "lock" on their positions, without any rivals
C. Completely dominating the actions of firms in the industry
D. Headed by unelected government officials
A. Strongly influenced by the firms in that industry
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Which of the following would shift the LM curve?
A) an increase in the tax rate B) an increase in the real money supply C) a reduction in business confidence D) All of these.
A firm engaging in rent seeking activity
A) is breaking the law. B) is willing to spend up to the gain in producer surplus. C) is irrational. D) increases societal gain.
The breakeven income level can be found by multiplying the income floor by the marginal tax rate and then adding disregarded income
Indicate whether the statement is true or false
Decisions about how to allocate resources are made by:
A. individuals. B. businesses. C. governments. D. Decision about resource allocation are made by all of the above