Government bureaus are likely to be very inefficient because:
a. they are overly concerned with profit-maximization
b. they face intense competition
c. they seek to fulfill their mission and then dissolve
d. none of the above
Answer: d. none of the above
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Open market operations are conducted by the __________.
Fill in the blank(s) with the appropriate word(s).
Consider two workers who are identical in every respect, including wages, except that one works in an industry whose workers are subject to a higher risk of long and frequent spells of uncompensated unemployment. Compared to the worker facing the lower risk of unemployment, the discounted expected present value of current and future earnings of the worker facing the higher risk of unemployment would be
A. unfair. B. equal. C. lower. D. higher.
By looking at aggregate demand via its component parts, we can conclude that the aggregate demand curve is downward sloping because
A) a lower inflation rate causes the real interest rate to fall, and stimulates planned investment spending. B) a lower inflation rate causes the real interest rate to rise, and stimulates planned investment spending. C) a higher inflation rate causes the real interest rate to fall, and stimulates planned investment spending. D) a higher inflation rate causes the real interest rate to rise, and stimulates planned investment spending.
The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. What is the area of deadweight loss when Light-U-Up produces the unregulated, profit-maximizing level of output?
A) abd B) acg C) deg D) There is no deadweight loss.