To counter the negative effects of the Great Recession, the U.S.
A. induced implosions in deficits through fiscal policies.
B. increased the long-term interest rate to 8 percent.
C. induced explosions in deficits through fiscal policies.
D. reduced the inflation rate to zero.
Answer: C
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Two types of barriers to entry are called ________ barriers to entry and ________ barriers to entry
A) legal; illegal B) natural; legal C) natural; illegal D) natural; rent seeking E) ownership; rent seeking
Which of the following is an economic policy that promotes the efficient quantity of apartments?
A) a rent floor above the equilibrium rent B) a rent ceiling below the equilibrium rent C) a sales tax imposed on renting an apartment D) none of the above
Refer to the above figure. If the market price is equal to A, which statement can be made about economic profits?
A) Economic profits are positive and equal to ABCG. B) Economic profits are positive and equal to ABEF. C) Economic profits are negative and equal to GCEF. D) Economic profits are negative and equal to ABQ 0.
Bureaucratic capture is:
A. a specific avenue through which corruption and rent-seeking can occur. B. when government positions are filled with people who have close ties to the group they are supposed to regulate. C. a source of bias or personal sympathy that interferes with efficiency. D. All of these are true.