One of the clear effects of deregulation was
a. lower prices of many services.
b. increased entry of new firms into regulated industries.
c. lower income to unions working in regulated industries.
d. all of the above.
d
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Decreasing returns to scale
A) indicate that an increase in all inputs by some proportion will result in a decrease in output. B) must always occur at some point in the production process. C) are directly related to the law of diminishing returns. D) All of the above are true. E) None of the above is true.
Why do negative supply shocks present such a difficulty for the Federal Reserve?
a. the Fed can choose to fight the rising price level, but this will result in lower unemployment. b. the Fed can choose to fight the rising unemployment, but this will result in an even lower price level. c. the Fed can choose to fight the falling unemployment, but this will result in an even higher price level. d. the Fed can choose to fight the rising unemployment, but this will result in an even higher price level. e. the Fed can choose to fight the rising unemployment, but this will result in higher taxes.
Investing $2 million of your own money in your business is an example of an _______ cost.
Fill in the blank(s) with the appropriate word(s).
M1 consists of
A) currency only. B) currency plus travelers checks only. C) currency plus checkable deposits only. D) checkable deposits only. E) none of the above