The hypothesis that regulators eventually adopt policies that benefit the producers in the industry is known as the
A) capture hypothesis.
B) producers' hypothesis.
C) share-the-gains, share-the-pains hypothesis.
D) it's-a-rip-off hypothesis.
Answer: A
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A decrease in spending on new homes will, other things equal
A) increase aggregate demand. B) increase aggregate supply. C) decrease aggregate demand. D) decrease aggregate supply.
A perfectly competitive steel mill that produces large amounts of a pollution (a negative externality) will, from a social point of view, produce:
a. too little steel. b. the socially optimal quantity of steel. c. too much steel. d. too much steel only if it installs pollution control equipment.
Nonrivalry in consumption and the inability to exclude nonpaying consumers from using the goods are characteristics of what kinds of goods?
a. durable b. nondurable c. public d. private
A new tool that the Fed started using in late 2008 was that it began to pay interest on the reserves banks hold in their federal reserve accounts
a. True b. False