The argument that suggests that regulators balance the interests of firms, consumers, and legislators is called
A) the capture hypothesis.
B) the creative response theory.
C) the share-the-gains, share-the-pains theory.
D) the theory of optimal regulation.
C
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If the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, then the unemployment rate would be
A. 8%. B. 6%. C. 4%. D. 10%.
People over the age 16 with full-time jobs are considered to be
A) in the labor force and employed. B) unemployed. C) in the labor force unemployed. D) in the working-age population only because they have full-time jobs. E) not in the labor force.
In the short-run
A) the aggregate supply curve is upward sloping. B) real GDP is always equal to potential GDP. C) the money wage rate can change. D) the price level does not change.
Only a firm with ______________ will be able to make their output profitably.
A. the highest opportunity cost of production B. a comparative advantage at producing their output C. an absolute advantage at producing their output D. low variable costs