Albro Martin (1971) argues that the Interstate Commerce Commission (1887–1995) was
(a) never a case of "capture."
(b) "captured" by the railroads themselves.
(c) "captured" by the customers of the railroads.
(d) too ineffective to warrant "capture" by anyone.
(c)
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Under the rational expectations hypothesis, if wages adjust rapidly to new information about intended policy actions, monetary policy can have an effect
A) in the long run, but not the short run. B) only in the short run and only if the policy is unanticipated. C) in both the short and the long run. D) only in the long run and only if the policy is fully anticipated.
Ceteris paribus, an increase in consumers' income will result in: a. a decrease in demand for an inferior good
b. an increase in demand for an inferior good. c. a decrease in the quantity supplied of an inferior good. d. an increase in the quantity supplied of an inferior good.
If a nation borrows $250,000 each year for five consecutive years, the absolute value of the government deficit is _____
a. $500,000 b. $750,000 c. $250,000 d. $1,250,000
Negative net exports means that
What will be an ideal response?