In command-and-control regulation, _____
a. a one-size-fits-all regulation achieves an efficient outcome that maximizes net social welfare
b. policies are flexible in nature
c. policies provide incentives to figure out ways to reduce externalities
d. policies are intended to alleviate the social costs of externalities
d
You might also like to view...
All of the following are government purchases except
A) the salary paid to Senator John Cornyn of Texas. B) the presidential pension paid to former President George H.W. Bush. C) the purchase of a new office building for the CIA. D) the purchase of new radar tracking equipment for the Navy.
In oligopoly, any action by one firm to change price, output, or quality causes
A) a reaction by other firms. B) no reaction from the other firms. C) a profit gain for the other firms. D) loss of market share by the acting firm.
All of the following are advantages of partnerships except one. Which is the exception?
a. they are relatively easy to start b. their profits are taxed once as personal income c. their liability is limited by each partner's share of the business d. a greater opportunity for specialization by the owners e. a continuation of the firm if one partner dies
Which of the following statistics is usually regarded as the best single measure of a society's economic well-being?
a. the unemployment rate b. the inflation rate c. gross domestic product d. the trade deficit