The theory of regulatory behavior that suggests that regulators must consider the demands of legislators, consumers, and members of the regulated agency is called
A) the capture theory.
B) share-the-gains, share-the-pains theory.
C) the natural theory.
D) the creative theory.
Answer: B
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If autonomous planned spending increases by $1 million and s = 0.2 and t = 0.1, then equilibrium income increases by
A) $5 million. B) $3.33 million. C) $3.57 million. D) $2.90 million.
Which of the following is an effect of a subsidy that encourages exports?
a. The amount of labor used in production is lower. b. The raw materials needed for production are reduced. c. The costs of production have been reduced. d. The opportunity costs of production are lower.
An arbitrary preference by an employer for one group of workers over another is termed:
A. employer discrimination. B. statistical discrimination. C. customer discrimination. D. employee discrimination.
If automobiles and gasoline are complements, then their cross-elasticity coefficient will be:
A. strictly greater than one. B. positive. C. equal to zero. D. negative.