The role of the Commodity Futures Trading Commission is to
A) set the prices of futures contracts.
B) operate the Chicago Mercantile Exchange.
C) operate the Chicago Board of Trade.
D) monitor potential price manipulation in futures trading.
D
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The demand curve for a good that has many perfect substitutes in consumption is likely to be
a. upward sloping b. steep c. highly inelastic d. horizontal e. vertical
Which of the following statements about the economically efficient level of air pollution is correct?
A) The economically efficient level of pollution occurs where the marginal cost of pollution reduction equals the marginal social benefit of reduction. B) The economically efficient level of pollution occurs where total benefits of pollution reduction are maximized. C) The economically efficient level of pollution is zero. D) The economically efficient level of pollution occurs where all social costs equal all social benefits.
Incomes policies are based on discretionary monetary and fiscal policies
a. True b. False Indicate whether the statement is true or false
If the price of pork rinds falls, then the substitution effect due to the price change will cause
A) an increase in the demand for pork rinds. B) an increase in the demand for corn chips, a substitute for pork rinds. C) an increase in the quantity of pork rinds demanded. D) a decrease in the quantity of pork rinds demanded.