Which type of regulation applies to all firms in the economy, as opposed to only covering specific industries?
A) economic regulation
B) social regulation
C) rate regulation
D) statutory regulation
Answer: B
You might also like to view...
Which of the following is an example of an implicit cost? (i) the owner of a firm forgoing an opportunity to earn a large salary working for a Wall Street brokerage firm (ii) interest paid on the firm's debt (iii) rent paid by the firm to lease office space
a. (ii) and (iii) only b. (i) and (iii) only c. (i) only d. (iii) only
Suppose an economy has a balanced federal budget, and a large increase in oil prices plunges the economy into a recession. Tax revenues will ________ and expenditures on transfer payments will ________, resulting in a budget ________
A) increase; increase; surplus B) fall; increase; deficit C) increase; fall; surplus D) fall; fall; deficit
In response to the destructive bank panics of the Great Depression, Congress established ________ in 1934 to reduce the likelihood of asset deflation and bank failures
A) the Federal Reserve system B) banking reserve requirements C) fractional reserve banking D) the Federal Deposit Insurance Corporation
Suppose the economy is in long-run equilibrium. In a short span of time, there is a sharp increase in the supply of labor, a major new discovery of oil, and new environmental regulations that raise the cost of electricity production. In the short run
a. the price level will rise and real GDP will fall. b. the price level will fall and real GDP will rise. c. the price level and real GDP will both stay the same. d. All of the above are possible.