One of the basic differences between social and economic regulations is that
A. economic regulations cover only particular industries while social regulations apply to all firms in the economy.
B. social regulations only apply to non-profit organizations while economic regulations apply only to for-profit organizations.
C. economic regulations focus on the banking industry while social regulations focus on monopolies.
D. economic regulations only apply to financial institutions while social regulations apply to a greater variety of institutions.
Answer: A
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It is important to distinguish investment expenditures from consumption expenditures because
A) households invest and business firms consume. B) foreign firms invest and domestic firms consume C) investment, not consumption, increases the natural real GDP. D) consumption, not investment, increases natural real GDP.
The best method to reduce pollution is
A) to never start polluting. B) to establish private property rights. C) dependent upon the characteristics of the resources and the transaction costs. D) dependent upon the quality of government bureaucrats and the level of greed in the society.
The debt ceiling is: a. a limit on the total amount of money the Fed can borrow from the government
b. the minimum amount of money the Fed can borrow from other commercial banks. c. a limit on the total amount of money the federal government can legally borrow. d. the maximum amount of money the state governments are allowed to use for public outlays. e. the maximum amount of money the state governments can borrow from the Fed.
A productive efficient society
A) produces at a point on its PPF. B) can produce more of one good only by giving up some of another good. C) cannot produce unlimited amounts of a good. D) still has to make choices. E) all of the above