The notion that regulated industry members themselves, sooner or later, are able to control regulatory bodies is referred to as
A. the control theory.
B. consumerism.
C. cartelization.
D. the capture hypothesis.
Answer: D
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If Jet Cruises chooses to No Ad and Easy Sail then chooses to Ad, Jet Cruises earns ________ million in net profit and Easy Sail earns ________ million.
Jet Cruises wants to prevent Easy Sail from entering the sailboat market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Jet Cruises and Easy Sail have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) $4; $3 B) $2; $4 C) $5; $2 D) $10; $2
You just heard about Burton's annual tent sale going on next week. This will likely cause your demand for a Burton jacket today to:
A. increase because of your income constraint. B. increase because of your expectations of the price of Burton jackets next week. C. decrease because of your income constraint. D. decrease because of your expectations of the price of Burton jackets next week.
The following is NOT an example of a potential monitoring solution to moral hazard
a. blocking social network sites on company computers b. rejecting a job candidate that fails to show up at the allotted interview time c. GPS tracking devices in repair trucks d. listening in on call center conversations
As the economy moves down and to the left along a short-run aggregate supply curve, it: a. moves up and to the right along the short-run Phillips curve. b. moves up and to the left along the short-run Phillips curve
c. moves down and to the left along the short-run Phillips curve. d. moves down and to the right along the short-run Phillips curve.