Professional organizations (for example, the American Medical Association and the American Bar Association) have been active advocates for regulation to restrict the right of professionals to advertise. Describe what economic incentives might exist for existing professionals to restrict advertising
If advertising increases information about prices and services, then providers of professional services will be required to compete with each other on the basis of price and service. As such, existing professionals will be subject to more competitive pressure in the markets they service, and individual profits are likely to fall.
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Taxes listed as Federal Insurance Contribution Act taxes on the employee paystub are ________
A) payroll taxes B) value-added taxes C) income taxes D) excise taxes
A fall in the level of prices
A) does not affect the value of money. B) has an uncertain effect on the value of money. C) increases the value of money. D) reduces the value of money.
A person who is risk averse will like gaining $1,000 more than they will dislike losing $1,000
a. True b. False Indicate whether the statement is true or false
Which of the following is not a monetary policy tool of the Fed?
A) changing the required reserve ratio B) changing the discount rate C) setting the price level and the market rate of interest D) conducting open market operations