Under the Global Legal Settlement of 2002, the provision that requires, for a period of five years, brokerage firms to contract with independent research firms to provide information to their customers is an example of
A) regulate for transparency.
B) supervisory oversight.
C) separation of functions.
D) socialization of information production.
D
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One problem with rent controls is that policy makers often ignore its secondary effects
a. True b. False
Leonard, Sheldon, Raj, and Penny each like science fiction moves. The price of a special boxed set of Star Trek DVDs is $50 . Leonard values the set of movies at $70, Sheldon at $65, Raj at $60, and Penny at $55 . Suppose that if the government taxes DVDs at $10 each, the price rises to $60 . A consequence of the tax is that consumer surplus shrinks by
a. $50 and tax revenues increase by $30, so there is a deadweight loss of $20. b. $35 and tax revenues increase by $30, so there is a deadweight loss of $5. c. $20 and tax revenues increase by $20, so there is no deadweight loss. d. $15 and tax revenues increase by $20, so there is no deadweight loss.
When a consumer is at the consumer optimum
A. MUa = MUb = MUc = . . . = MUn. B. MUa/Pa = MUb/Pb = MUc/Pc = . . . = MUn/Pn. C. MUa/Pa = MUb/Pb = MUc/Pc = . . . = MUn/Pn = 1. D. TUa = TUb = TUc = . . . = TUn.
Economic growth can be obtained
A) by government legislation. B) by a change in the level of inputs or an improvement in technology. C) only through a change in the level of inputs, hence the desire for conquest throughout the history of the world. D) only through a change in technology, which explains the explosive growth of the United States.