One goal of rate-of-return regulation is the prevention of
A) free market entry.
B) positive economic profits.
C) poor quality service.
D) environmental degradation.
B
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If the nominal interest rate is 2 percent and the inflation rate is 4 percent, then the real rate of interest is
A) -2 percent. B) 2 percent. C) 3 percent. D) 6 percent.
A change that shifted the long-run aggregate supply curve to the right would also shift the short-run aggregate supply curve to the right
a. True b. False Indicate whether the statement is true or false
Commercial banks in the United States can be chartered
a. by state governments and the federal government b. only by state governments c. only by the federal government d. only by the nationally chartered bank in Washington, D.C. e. only by the Federal Reserve
Exhibit 15-4 Coffee and tea output (pounds per hour) CountryCoffee Tea Brazil10 5 China 8 8 As shown in Exhibit 15-4, the opportunity cost to Brazil of producing one pound of coffee is:
A. 1 pound of tea. B. 5 pounds of tea. C. 1/2 pound of tea. D. 10 pounds of tea.