Social regulation means that the government dictates the price that a firm must charge and/or the quantity that a firm must supply
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. The market equilibrium with no government intervention is raising ________
A) 0 goats B) 40 goats C) 50 goats D) 55 goats
In which case did the U.S. Supreme Court's review powers extend to actions by the other two branches of the federal government and not merely to the laws of the states?
(a) Marbury v. Madison (1803) (b) McCulloch v. Maryland (1819) (c) Gibbons v. Ogden (1824) (d) Dartmouth College v. Woodward (1819)
Evidence from empirical studies of long-run cost-output relationships lends support to the:
a. existence of a non-linear cubic total cost function b. hypothesis that marginal costs first decrease, then gradually increase over the normal operating range of the firm c. hypothesis that total costs increase quadratically over the ranges of output examined d. hypothesis that total costs increase linearly over some considerable range of output examined e. none of the above
Which of the following had prompted the Chinese authorities to stand ready to buy or sell dollars steadily and in large volume?
a. Huge current account deficit b. Currency pegged to the dollar c. Floating rate policy d. Adherence to the old gold standard