Defenders of social regulation point out that:
A. social regulation is a better alternative than unregulated natural monopoly.
B. critics who stress the high administrative and compliance costs of social regulation
underestimate the social benefits that the regulations produce.
C. the number of regulatory agencies has declined over the past two decades.
D. social regulations reduce product prices.
Answer: B
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According to this Application, because Argentina pegged its currency to the U.S. dollar, the appreciation of the dollar caused a large trade deficit in Argentina. This trade deficit meant that
A) the demand for Argentinean pesos exceeded the supply of the pesos. B) the demand for Argentinean pesos exceeded the supply of U.S. dollars. C) the supply of Argentinean pesos exceeded the demand for the pesos. D) the supply of Argentinean pesos exceeded the demand for U.S. dollars.
If something is used as a medium of exchange, then a necessary condition is that it must be
a. a precious metal, such as gold or paper money b. convertible into gold c. used in barter exchange d. in abundant supply e. accepted by those using it as payment for any purchase
The present day value of all net margins earned from a relationship with a customer is called ____________.
a. Customer Lifetime Value b. Value Profit Index c. Opportunity cost d. Customer Value
Economic regulation consists of government measures designed to improve health and safety, such as control over unsafe working conditions and dangerous products
Indicate whether the statement is true or false