The Interstate Commerce Commission regulated the trucking industry for many years in order to
a. shield the railroads from competition in trucking
b. prevent economic profits from being made
c. regulate the truck monopoly in the interests of the consumer
d. prevent economies of scale from occurring
e. punish truck drivers for unionizing
A
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In the short run, when the Fed increases the federal funds rate,
A) the real interest rate rises and investment does not change. B) the real interest rate is unaffected but investment still decreases. C) the real interest rate rises and investment decreases. D) there is no effect on investment because investment depends on the real interest rate. E) the real interest rate falls and investment increases.
If the tariff on computers is not changed, but domestic computer producers shift from domestically produced semiconductors to imported components, then the effective rate of protection in the computer industry will
A) increase. B) decrease C) remain the same. D) depend on whether computers are PCs or "Supercomputers." E) no longer apply.
Which of the following always decreases as output increases?
a. ATC b. MC c. AFC d. TC e. TVC
A payment the government makes to either the buyer or seller, usually on a per-unit basis, when a good or service is purchased or sold is called a
a. black market. b. interest rate. c. subsidy. d. tax.