Usually policy makers ask advice from economists whose values are very different from their own.
Answer the following statement true (T) or false (F)
False
Because of the inevitable influence of economists' value judgments on their policy prescriptions, economists usually provide advice for policy makers whose values are the same as their own, and policy makers request it from economists who share their values.
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Under the social interest theory of regulation, the goal of regulating natural monopolies is
A) to provide a larger, though not maximum, profit for the firms. B) to use average cost pricing. C) to provide an outcome similar to the competitive outcome. D) to provide a the maximum profit for the firms. E) None of the above answers is correct.
Plumbers and carpenters are examples of industrial unions
a. True b. False
Dave recently began running his father's farm. Last year he took in $15,000 in sales revenue and paid $10,200 in out-of-pocket costs. He made an economic profit last year:
a. if his implicit costs were $3000. b. if his implicit costs were $4000. c. if his implicit costs were $5000. d. In both cases a. and b.
If you knew that an investment was going to pay you $1,188,757 in 20 years, and you knew that the annual interest rate over that time would be 2 percent, you could calculate the present value to be:
A. $800,000. B. $1,500,000. C. $905,000. D. $1,000,000.