The total costs of regulation
A) include increased taxes and increased prices of the products being regulated.
B) are paid entirely by the regulated industries.
C) are much higher than just the explicit government outlays to fund the administration of various regulations.
D) are paid entirely by the consumers of regulated industries.
Answer: C
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Answer the following statements true (T) or false (F)
1) Trade secrets confer more robust protection that patents. 2) A patent request will meet the nonobviousness condition if it is not obvious to a person with ordinary skill working in the area. 3) In the absence of patent rights, society can still achieve the optimal amount of innovation. 4) Trade secrets do not need governmental approval to protect it. 5) An important difference between a patent and a trade secret is that a patent holder must disclose the workings of the patent and the trade secret owner is not required to disclose the trade secret.
According to proponents of the signaling theory of education,
a. schooling has no real productivity benefit. b. no one person finds it easier to earn a college degree than does any other person. c. the human-capital view of education is entirely correct. d. employers send signals to young people to persuade them to expend whatever effort is necessary to earn college degrees.
Sam owns a candy factory and hires workers in a competitive labor market to pack cases of candy. The company's weekly output of cases of candy varies with the number of workers hired, as shown in the following table:Number ofworkersCases/week00116023103450458057006810 If each case sells for $3 more than the cost of the materials used in producing it, then the most Sam would pay the 5th worker is ________ per week.
A. $120 B. $390 C. $360 D. $330
Keynes believed that the government should increase spending and reduce taxes during an economic downturn because ________.
A. he agreed with the classical macroeconomic theorists B. he was only focused on the long-run impacts of government policy C. doing so would shorten the duration of the downturn D. otherwise the economy would never recover