The long-term impact of Munn v Illinois (1877) on regulatory efforts was
(a) to hold back federal efforts to regulate business.
(b) to prevent states from regulating interstate trade.
(c) to provide a temporary justification for regulating business.
(d) to establish government as able to regulate all businesses permanently.
(d)
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Which of the following is true, other things equal?
a. A reduction in prices will increase the real wealth of those holding a fixed quantity of money. b. A reduction in prices will lead to a decline in net exports. c. A reduction in prices will increase the scarcity of money, raise the real interest rate, and, thereby, encourage investment and consumption. d. A reduction in prices will increase profit margins and, thereby, stimulate additional investment.
Real dollar amounts are essentially the same as nominal dollars.
A. True B. False C. Uncertain
Excess capacity for a firm in an oligopoly situation
A. cannot contribute to long run profit for a firm. B. is a deterrent to entry in the market by potential competitors. C. will be temporary if the planning was done right. D. encourages competitors to enter the market and build at optimal capacity.
Economic growth, as measured by increases in real GDP per-capita, was at its weakest during the
A. 1990s. B. 1980s. C. 2000s and 2010s. D. 1970s.