An In the News article is titled "Recycling Wastes Money." When the government requires specific processes for reducing pollution, it is using:
A. Pollution fines.
B. Command-and-control strategy.
C. User fees.
D. Emission charges.
Answer: B
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In monopolistic competition, profit is maximized by producing so that marginal revenue
A) equals price. B) is negative. C) equals marginal cost and which are less than price. D) equals average total cost but not marginal cost. E) equals marginal cost and equals price.
The FOMC ________
A) meets four times a year to decide on how to conduct open market operations that influence the money supply B) meets six times a year to decide on how to conduct open market operations that influence the money supply and interest rates C) meets eight times a year to decide on how to conduct open market operations that influence the money supply and interest rates D) meets twelve times a year to decide on how to conduct open market operations that influence interest rates E) none of the above
"Captured" regulators end up doing exactly what the regulated industry wants
a. True b. False
The long-run effect of an increase in household consumption is to raise
a. both real output and the price level. b. real output and lower the price level. c. real output and leave the price level unchanged. d. the price level and leave real output unchanged.