Two objectives of the regulation of natural monopolies would be lower ______ and higher _______.
Fill in the blank(s) with the appropriate word(s).
price; output
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In the one-period model, what do we assume about household preferences?
A) Households prefer more to less. B) Households like money. C) Households dislike taxes. D) Households care about others.
Which of the following statements is true of capital gains in the U.S.?
A. Capital gains are taxed only if they are long-term. B. Capital gains are taxed only for low-income groups. C. Capital gains are taxed on accrual. D. Capital gains are forgiven at death.
Marginal cost is equal to
A. The change in total costs divided by the change in quantity produced. B. The change in fixed costs as more units are produced. C. Average total cost multiplied by quantity produced. D. Total cost divided by quantity produced.
Which of the following happens if the real interest rate of an economy rises?
A) Labor demand increases. B) Labor supply falls. C) Investment falls. D) Consumption increases.