The major goal of social regulation is
A) a better quality of life through a less polluted environment, better working conditions, and safer and better products.
B) to make sure that firms are not earning monopoly profits.
C) to make sure that prices are kept low enough so that every person can purchase the good.
D) to make sure that the firm produces at the socially optimal point of production.
A
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If the price index last year was 100 and today it is 167, what is the inflation rate over this period?
A) 33 percent B) -67 percent C) -6.7 percent D) 167 percent E) 67 percent
Refer to Figure 27-5. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely pursue
A) contractionary automatic stabilizers. B) expansionary fiscal policy. C) contractionary fiscal policy. D) expansionary monetary policy. E) contractionary monetary policy.
Check collection and clearing happen
A) at the bank where the check was written. B) only at private clearing centers. C) at the Fed and at private clearing centers. D) only at the Fed.
Opportunity costs would be increased by
a. firing all workers and moving the plant to China b. removing all of the safety features from factory machinery c. an across the board increase on all products d. switching from producing one product to another