A major difference between industrial regulation and social regulation is that industrial regulation:
A. Covers many industries across the economy
B. Has expanded rapidly since the 1970s
C. Is targeted at the prices charged, the costs of production, and amount of profit
D. Focuses on product design, employment conditions, and the production process
C. Is targeted at the prices charged, the costs of production, and amount of profit
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If pure competition doesn't exist in the real world what is the implication for the shape of the demand curve that real-world firms would face?
What will be an ideal response?
What is a benefit of giving the government freedom to spend more than they receive in taxes and run a deficit?
A. It allows the government to be flexible if something unexpected happens. B. It can make it more difficult for businesses and consumers to borrow. C. There is never a good enough reason to allow public debt. D. The federal government cannot run a deficit.
The key element in preserving a monopoly is keeping rivals out of the market
a. True b. False Indicate whether the statement is true or false
The three fundamental economic questions of what, how, and for whom:
A) exist because of scarcity. B) are much more serious in a socialist system. C) are not serious in a capitalistic system. D) are not relevant in the industrialized world of today.