Under the U.S. system of regulation, most regulars are selected from
A) politicians and their friends.
B) the industry that is to be regulated.
C) consumer advocacy groups.
D) university professors who understand the nature of the industry and who understand the true interests of consumers.
B
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What is the key feature shared by all oligopoly markets?
a. A large number of sellers. b. Mutual interdependence. c. Product differentiation. d. Easy entry and exit.
epublicans often argue in favor of what to push the economy toward economic recovery, as they did during the recession that began in 2008?
A. Tax cuts B. Increase government spending C. Decrease government spending D. Encourage the public to save more
Which of the following is not part of our portfolio of antitrust acts?
a. Sherman Act b. Clayton Act c. Federal Trade Commission Act d. Robinson-Patman Act e. Herfindahl-Hirschman Act
Which of the following is a characteristic of economic rent?
A. It can never be negative. B. It equals economic profit minus accounting profit. C. It is driven towards zero by free entry. D. It can be positive, zero, or negative.