According to your authors, which action below clearly restricts competition?
A) A large firm raises its price.
B) A large firm lowers its price.
C) Government deregulates an industry.
D) Antitrust legislation restricting other suppliers from entering into a market.
D
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In most models of managerial conflict, the owner is the ________ and the manager is the ________.
A. employee; director B. principal; agent C. wage earner; stockholder D. resource; resource owner
Relating to the Economics in Practice on page 338: A number of agencies in the federal government, including the EPA, use the social cost of carbon as their internal carbon fee. In 2015, this price they were paying was ________ per ton of carbon.
A. $18 B. $39 C. $62 D. $100
During 2016, Sean's consumption equals $25,000 and the change in his net worth is -$5,000. Sean's economic income for 2012 is
A. $5,000. B. $20,000. C. $25,000. D. $30,000.
Rent controls tend to _____ the housing supply and to _____ the rents that people in non-rent-controlled apartments pay.
Fill in the blank(s) with the appropriate word(s).