The social interest theory of regulation asserts that regulation
A) seeks an efficient use of resources.
B) is aimed at keeping prices as low as possible.
C) helps firms maximize economic profit.
D) of a natural monopoly must be done using rate of return regulation.
E) does not work for society as well as would allowing the firms freedom from regulation.
A
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In the long run, price elasticities of demand are usually ____
a. less than they are in the short run because people can adjust b. the same as they are in the short run because tastes don't change c. greater than they are in the short run because prices rise over time d. less than they are in the short run because real prices fall over time e. greater than they are in the short run because consumers have time to adjust
Inequality between countries, in terms of differences in their average national incomes, has been:
A. increasing over recent decades. B. decreasing over recent decades. C. decreasing since the 1930s. D. increasing since the 1930s.
The money multiplier is approximated as being equal to:
A. demand deposits multiplied by the reserve ratio. B. one divided by the federal funds. C. demand deposits multiplied by the interest rate. D. one divided by the reserve ratio.
The region of the U.S. with the highest poverty rate is the Midwest
Indicate whether the statement is true or false