Deregulation of the railroad industry led to
A. Reconfigured routes and services.
B. Increased operating costs.
C. Decreased competition.
D. Lower profits.
Answer: A
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Refer to Figure 10.1. If three lights are installed, the people who were responsible for the light being installed each receive a payoff of
A) 4. B) 6. C) 8. D) 10.
New growth theory assumes that
A) all inputs experience diminishing returns. B) only random technological advances produce growth. C) knowledge does not experience diminishing returns. D) None of the above answers is correct.
Governments in market economies usually have significant control over
a. investment spending. b. personal consumption spending. c. import spending. d. education spending.
Suppose caviar sales soars at the same time price increases. What would lead to both a higher quantity sold and higher price of caviar?
A. A shift in demand to the right and a larger shift in supply to the right. B. A shift in demand to the left and a smaller shift in supply to the left. C. A shift in demand to the left and a smaller shift in supply to the right. D. A shift in demand to the right and a shift in supply to the left.