Mandatory motorcycle helmet laws are designed to reduce the severity of injuries resulting from motorcycle involvement in traffic accidents. In this sense, these mandatory helmet laws are reducing ________ of risky behavior
A) negative externalities B) the social benefit
C) positive externalities D) the private benefit
A
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Under a rule of reason approach, which of the following would be legal in the United States?
a. the merger of two small companies in an unconcentrated market b. price fixing between IBM and Compaq c. the merger between Ford and General Motors d. Kellogg's and General Mills collude to drive Quaker Oats out of the business e. Exxon Oil and Mobil Oil elect the same person to their boards of directors
A decrease in the capital stock would be expected to
a. decrease the labor force. b. increase the level of output. c. decrease real GDP per capita. d. increase real GDP per capita.
In reality, the long-run supply curve tends to be:
A. perfectly inelastic. B. perfectly elastic. C. upward sloping. D. downward sloping.
We would expect which of the following to occur when the central bank pursues contractionary monetary policy?
A) an increase in bond prices and an increase in the interest rate (i) B) a reduction in bond prices and an increase in i C) an increase in bond prices and a reduction in i D) a reduction in bond prices and a reduction in i E) none of the above