The theory of regulation developed to deal with "natural monopolies" is called:
A. Legal cartel theory
B. Public interest theory
C. Potential competition theory
D. Social regulation theory
B. Public interest theory
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The Phillips curve is thought to reflect the relationship between
A) unemployment and inflation. B) the price level and inflation. C) unemployment and real GDP. D) inflation and real GDP.
Fiscal policy involves the manipulation of ________
A) U.S. interest rates B) wages and prices C) federal government spending and tax revenues D) the supply of money
The marginal physical productivity of labor is:
a. the slope of the total output curve at the relevant point. b. the negative of the slope of the total output curve at the relevant point. c. the slope of the line connecting the origin with the relevant point on the total output curve. d. the negative of the slope of the line connecting the origin with the relevant point on the total output curve.
Which of the following nations was the world's largest exporter in 2012?
A. Germany B. The United States C. Japan D. China