The Depository Institutions Deregulation and Monetary Control Act passed by the Congress in 1980 led to:
a. the complete removal of thrift institutions.
b. increased competition among financial institutions.
c. the formation of large number of savings and loan associations.
d. privatization of all financial institutions in the U.S.
e. the complete removal of credit unions.
b
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Allocative efficiency is achieved when the production is such that
A) the marginal benefit exceeds the marginal cost by as much as possible. B) marginal cost equals zero. C) marginal benefit is equal to marginal cost. D) the production point is on the PPF. E) None of the above is true.
If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affected?
A) The quantity of chocolate they sell decreases because U.S. consumption of chocolate decreases. B) The quantity of chocolate they produce increases. C) The price at which they sell their chocolate falls. D) They are harmed because foreign exporters of chocolate increase their supply in response to the higher price. E) They are unaffected because the quota applies to foreign producers, not to U.S. producers.
A(n) _____ arises when people purchasing a public good have an incentive to let others pay for it and then take advantage of those purchases made by others
a. free rider problem b. monopsony c. monopoly d. adverse selection
It is efficient to reduce pollution up until the marginal benefit from reducing the pollution equals the marginal cost of abatement.
Answer the following statement true (T) or false (F)