When government defines and enforces property rights, this is an example of government as
a. referee.
b. regulator of business.
c. buyer of goods and services.
d. tax collector.
e. redistributor.
a
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The profit earned by a monopolistic competitor after the entry of new firms is ________
A) higher than the profit earned by the firm before the entry of new firms B) lower than the profit earned by the firm before the entry of new firms C) equal to the profit earned by a monopolist in the long run D) higher than the profit earned by a perfect competitor in the long run
The figure above shows the costs and demand curves for the Bigshow Cable Company. To avoid any deadweight loss in the market served by Bigshow, the regulator must set the price at
A) $8. B) $6. C) $4. D) $2.
Who provides insurance for all demand deposit accounts up to $100,000 in banks choosing its protection?
a. Federal Deposit Insurance Corporation b. Federal Reserve c. Office of Management and Budget d. Treasury e. Securities and Exchange Commission
If the United States is to reduce poverty by using a negative income tax, the guaranteed income should be
a. two times the tax rate. b. close to the poverty line. c. close to the median income of all families. d. above the poverty line.