?_______ sets the rules and regulates and influences the activities of banks and other institutions.
A. The Bank of America
B. The International Monetary Fund
C. Congress
D. The Federal Reserve
Answer: D. The Federal Reserve
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If a monopolist sets a low price to discourage potential competitors from entering the market, it is referred as
A) price skimming. B) predatory pricing. C) penetration pricing. D) limit pricing.
An advantage emission taxes and permits have over direct controls is that the former
a. work well even if pollution output cannot be accurately measured. b. can respond quickly to new information about the dangers of particular pollutants. c. make it in firms' interests to reduce pollution in the most efficient manner possible. d. reduce pollution to zero.
Which of the following would be included in U.S. GNP but not in U.S. GDP?
A. Chipsets produced by U.S.-owned firms operating in China. B. Auto parts produced by a Japanese-owned firm operating in North Carolina. C. Sales of used cars in the United States. D. The tips received by a waiter in New Jersey.
If products were in short or surplus supply in the Soviet Union:
A. price and profit signals eliminated those shortages and surpluses. B. price and profit signals intensified those shortages and surpluses. C. producers would not react because no price or profit signals occurred. D. the planners would immediately adjust production to achieve equilibrium.