Sellers turn so frequently to government in efforts to protect themselves from competition because government
A) can be influenced by monetary payments.
B) can use coercion against competitors.
C) has rather consistently forced firms to compete when they preferred not to.
D) is charged with protecting the public interest.
E) is under the thumb of monopolists.
B
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Jones is hungry, but is willing to postpone lunch as long as he can have a much larger meal at dinner. The compensation of the larger meal at dinner time suggests that Jones
A) is a glutton. B) acts irrationally because it is best to have three meals a day. C) has a positive rate of time preference with regard to today's meals. D) does not consider lunch to be a scarce good.
There is often a trade-off between
A) economic efficiency and economic equity. B) limited and unlimited resources. C) voluntary and involuntary exchanges. D) productive efficiency and allocative efficiency.
During the Great Depression fiscal and monetary policy was characterized by
a. an increase in tax rates and a contraction in the money supply. b. a decrease in tax rates and a contraction in the money supply. c. a decrease in tax rates and an expansion in the money supply. d. an increase in tax rates and an expansion in the money supply.
A major drawback associated with the assessment of income distribution is that they neglect the effects of taxes and in-kind transfers
Indicate whether the statement is true or false