The actual and cyclically adjusted budgets will be equal when the economy is at full employment.
Answer the following statement true (T) or false (F)
True
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The primary purpose of economic regulation of an industry is to
A) control the prices charged by the regulated industry. B) increase taxes across the board. C) reduce output. D) control hiring and firing within the industry.
Shadow prices:
A. are paid in terms of opportunity costs. B. are set by the government. C. exist only in black markets. D. are illegal.
Suppose total benefits and total costs are given by B(Y) = 600Y ? 12Y2 and C(Y) = 20Y2. What is the maximum level of total benefits?
A. 1,600 B. 7,500 C. 2,812.5 D. None of the statements associated with this question are correct.
Recall the Application about incentives to immunize children in developing countries to answer the following question(s). According to this Application, the incentives described were ________ because they ________ the rate of immunizations.
A. effective; increased B. effective; decreased C. not effective; increased D. not effective; decreased