Efficiency in the choice of outputs requires that marginal cost be equal to marginal revenue and nothing else
a. True
b. False
Indicate whether the statement is true or false
False
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The Social Security program is unique in that employees can _____ the amount shown on their W-2 form and find out _____
a. look at; their share of the cost of Social Security b. double; their annual contributions to their retirement c. look at; their annual contributions to their retirement d. double; their share of the cost of Social Security
The goals of rate regulation have included the prevention of
A) monopoly profits. B) oligopolistic pricing. C) marginal cost pricing. D) average cost pricing.
By studying the effects of choice architecture, we can:
A. expand the simplifying assumption that people always make the choices that are best for themselves. B. blend the ideas of psychology with core economic beliefs. C. open the possibility that we can no longer tell if someone is making a mistake or choosing something that is maximizing his utility. D. All of these statements are true.
The actual control of the Federal Reserve System resides in the
A. Congress of the United States. B. member banks. C. Senate Banking Committee. D. Board of Governors.