Regarding the costs of regulation, which is a FALSE statement?
A) Airline safety standards have increased the price of air travel.
B) Automobile safety standards raise the price of cars.
C) Regulatory spending by federal agencies has decreased since 1970.
D) Pharmaceutical manufacturing safety standards raise the price of drugs.
C
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When products that create positive externalities are produced, at the market equilibrium output, the social benefit generated by consuming the product exceeds the private benefit
Indicate whether the statement is true or false
Monetarists have maintained the Classical tradition by emphasizing the
A) importance of government's fine-tuning policies. B) inflationary impact of government spending. C) instability of money demand. D) inherent stability of the economy.
A market economy is an economy where:
a. economic decisions are passed down from government authority and resources are owned by the government. b. economic decisions are economic decisions are centralized, resources are owned by private individuals, and businesses supply goods and services based on demand. c. economic decisions are decentralized, resources are owned by private individuals, and businesses supply goods and services based on demand. d. economic decisions are passed down from government authority and resources are owned by individuals.
This profit-maximizing firm produces a quantity of a little over _______ units.
A. 125.
B. 110.
C. 85.
D. 65.