Governments choose to pursue industrial policy to:
A. regulate the growth of certain industries.
B. raise tax revenue.
C. spur economic growth.
D. create publicly owned companies.
Answer: C
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Technically speaking, maximizing profit means finding the maximum difference between
a. TR and TC b. MR and MC c. price and ATC d. price and AR e. ATC and MC
One major effect of the Great Depression was
a. it reaffirmed everyone's faith that capitalism was a self-correcting system. b. it encouraged voters to limit the role of government. c. the creation of the rational expectations school of economic theory. d. a decreased faith in the ability of economies to automatically correct major problems.
If baked potatoes and sour cream are complements, then an increase in the price of sour cream decreases the demand for baked potatoes
a. True b. False Indicate whether the statement is true or false
If a surplus of loanable funds exists in the loanable funds market, the real interest rate ________ and the quantity of saving ________
A) falls; increases B) rises; decreases C) falls; does not change D) rises; increases E) falls; decreases