A tradable permit is an example of command-and-control regulation
a. True
b. False
Indicate whether the statement is true or false
False
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All of the following are possible explanations for the increase in U.S. government budget deficits as a percentage of GDP since the early 2001 EXCEPT
A) increases in tax revenues. B) increases in payments for entitlements. C) increases in government spending. D) decreases in tax rates.
An industry in which an increase in output leads to a reduction in long-run per-unit costs is a(n)
A) increasing-cost industry. B) constant-cost industry. C) break-even cost industry. D) decreasing-cost industry.
An increase in the price of Heinz ketchup is likely to cause:
A. an increase in the demand for Hunt's ketchup, due to a change in preferences. B. an increase in the demand for Hunt's ketchup, due to a change in the price of a substitute good. C. a decrease in the demand for Hunt's ketchup, due to a change in preferences. D. an increase in the demand for Hunt's ketchup, due to a change in the price of a complementary good.
Monopolistic competition is characterized by i) efficient scale ii) markup pricing over marginal cost iii) deadweight loss iv) excess capacity
a. i) and ii) only b. ii) and iv) only c. i), ii), and iii) only d. ii), iii), and iv) only