During the first phase of regulation in the United States (from 1887 to the Great Depression), the primary target of regulation was the:
A. labor unions.
B. communication industry.
C. food and drug industries.
D. railroads.
Answer: D
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The population of Omega totals one million people, 30 percent of whom are employed. Average output per worker in Alpha is $30,000. Real GDP per person in Alpha totals:
A. $9,000. B. $100,000. C. $21,000. D. $30,000.
Explain the difference between the GDP deflator and the Consumer Price Index
What will be an ideal response?
Using the data in the above table, when the firm increases its output from 4 to 9 units, the marginal cost of a unit is
A) $4.00 a unit. B) $5.00 a unit. C) $6.00 a unit. D) $7.00 a unit.
Exhibit 3A-1 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-1, if the market price falls from $2.00 to $1.00, then:
A. total surplus increases. B. deadweight loss increases. C. overproduction decreases. D. underproduction decreases.