?If oil executives control the governmental agency which regulates oil companies, regulatory capture has occurred.
Answer the following statement true (T) or false (F)
True
Rationale: Regulatory capture occurs when regulating agencies are unduly influenced by those they are charged with regulating.
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
For an economy starting at full employment real GDP, an increase in autonomous expenditure results in a(n)
A. increase in full-employment output. B. decrease in full-employment output. C. recessionary output gap. D. inflationary output gap.
The CPI basket is determined by
What will be an ideal response?
The $1,000 you earned last year on your money market fund is an example of
A. property income. B. inheritance income. C. human capital income. D. transfer income.