The primary explanation for why a regulatory commission may protect the monopoly it is supposed to regulate is that the commission members
a. regularly receive gifts and bribes
b. are incompetent
c. are experts sympathetic to industry management
d. work to increase industry competition
e. are directly accountable to the public
C
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The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. How much consumer surplus is lost?
A) $10,000 B) $20,000 C) $25,000 D) $40,000
The aggregate demand (AD) curve shifts to the right. This is a result of
A) total expenditures increasing at a given price level. B) total expenditures decreasing at a given price level. C) the real balance effect. D) the interest rate effect E) b and c
According to the rule of 70, if a country grows at an average rate of 2 percent per year, what would happen after 35 years?
A. The country's nominal GDP would double. B. The country's real GDP would double. C. The country's real GDP per capita would double. D. The country's nominal GDP per capita would double.
A decrease in the discount rate ________ bank reserves and ________ the money supply if banks respond appropriately to the change in the rate
A) increases; decreases B) decreases; decreases C) increases; increases D) decreases; increases