The various ways that vertical relationships can evade regulation include
a. tying the sale of a regulated good to a customer's choice of an unregulated good
b. bundling regulated and unregulated goods
c. preventing the exclusion of rival unregulated goods
d. insuring tax rates are uniform across jurisdictions
b
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If the desired reserve ratio increases, then
A) banks' desired reserves increase and their excess reserves decrease. B) bank customers become more willing to make deposits in banks. C) banks are able to make more loans. D) banks can buy more government securities. E) the Fed has supplied banks with more reserves.
Which of the following statements is true of the price elasticity of? demand?
A) As the number of substitutes for a product increases, the price elasticity of demand for that good decreases. B) If the budget share of a particular good in a consumer's bundle increases, the price elasticity of demand for that good is likely to decrease. C) The price elasticity of demand for a good is generally higher in the long run than in the short run. D) The demand for a good with a price elasticity of demand of zero is highly responsive to price changes.
The total physical product of an input is the same thing as its
A. total revenue product. B. marginal physical product times output. C. output. D. total consumer’s surplus.
Food stamps are ______
a. financed by the federal government but administered by the states b. financed by the federal government and the states and administered by the states c. financed by the federal government and the states and administered by localities d. financed by the states but administered by the counties