Command-and-control means of regulation achieve their results more slowly but more reliably
Indicate whether the statement is true or false
F Command-and-control means of regulation can usually have effects more quickly than other means, but they are costly to administer and are not as good at motivating desirable decentralized actions.
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Labor productivity and the price of the good being produced are two variables that contribute to
A. the marginal product. B. the demand for the product. C. whether or not a union forms. D. the wage rate.
The lesson of __________ is to forget about the money that's irretrievably gone and instead to focus on the marginal costs and benefits of future options.
A. marginal utility B. sunk costs C. marginal analysis D. budget constraints
According to some New Keynesian theories, one possible rationale for active policy making is
A) growing competition in U.S. product markets. B) flexible prices. C) sluggish adjustment of the price level in response to changes in aggregate demand D) people are not rational and so do not react to incentives.
Consider two coupons: one offers 50 percent off a scarf that costs $20, and the other offers 5 percent off a jacket that costs $200. Using either coupon requires driving to the shopping mall across town. According to the Weber-Fechner law, which coupon will people tend to perceive as being more valuable?
A. Neither coupon will be of value to anyone since both require driving across town. B. They will be seen as equally valuable since both lead to a savings of $10. C. The coupon for the jacket since $200 is greater than $20. D. The coupon for the scarf since 50 percent is greater than 5 percent.