The George Stigler quote, "...the degree of ‘market failure' for the American economy is much smaller than the ‘political failure' arising from the imperfections of economic policies ...". illustrates the advantage of which type of public policy toward monopolies?
a. antitrust laws
b. regulation
c. public ownership
d. "do nothing"
d
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Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, the largest tax cuts occurred in which category?
A) infrastructure tax cuts B) business tax cuts C) individual tax cuts D) energy tax cuts
A decrease in the demand for dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency.
B) appreciation of the U.S. dollar and appreciation of the foreign currency.
C) depreciation of the U.S. dollar and depreciation of the foreign currency.
D) depreciation of the U.S. dollar and appreciation of the foreign currency.
In command-and-control regulation, _____
a. a one-size-fits-all regulation achieves an efficient outcome that maximizes net social welfare b. policies are flexible in nature c. policies provide incentives to figure out ways to reduce externalities d. policies are intended to alleviate the social costs of externalities
Disinflation is like
a. slowing a car down, whereas deflation is like putting the car into reverse gear. b. maintaining a car's speed, whereas deflation is like slowing the car down. c. putting a car into reverse gear, whereas deflation is like slowing the car down. d. maintaining a car's speed, whereas deflation is like putting the car into reverse gear.