According to the capture hypothesis of regulation
A) regulation favors producers over consumers because the producers were able to pay off the regulators.
B) regulation eventually favors producers over consumers because the producers have more at stake than individual consumers.
C) regulation benefits the regulators and the legislators who support the regulation by enabling them to obtain favors from both producers and consumers.
D) regulation benefits the consumers over producers because the number of consumers is greater than the number of producers, giving the consumers more political clout.
B
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Discrimination that occurs because someone does not like a personal characteristic of another person is called ________, and discrimination that occurs because someone assigns the properties of a group to an individual who is a member of that group is called ________.
Fill in the blank(s) with correct word
In the United States, the dollar was commodity backed by:
A. gold. B. silver. C. oil. D. diamonds.
If Gordon’s average tax rate is 10 percent when he earns $100 and his average tax rate is 10.25 percent when he earns $101, then
A. his marginal tax rate is 0.25 percent. B. his marginal tax rate is 35.25 percent. C. his marginal tax rate is 25.25 percent. D. his marginal tax rate is 25 percent.
A monopolist will maximize profits by:
A. setting his price as high as possible, while a perfectly competitive firm will take price from the market. B. setting his price at the level that will maximize per-unit profit, while a perfectly competitive firm will minimize per-unit loss. C. producing the output where marginal revenue equals marginal cost, just as a perfectly competitive firm will. D. producing the output where price equals marginal cost, while a perfectly competitive firm will produce where marginal revenue equals marginal cost.