Which of the following best describes the capture theory of regulation?
i. Regulation seeks an efficient use of resources.
ii. Regulation is aimed at keeping prices as low as possible.
iii. Regulation helps firms maximize economic profit.
A) i only
B) ii only
C) iii only
D) i and ii
E) i, ii, and iii
C
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Government spending plays no role in meeting our social and public needs.
Answer the following statement true (T) or false (F)
Which of the following statements is true of a monopolist?
a. It can raise price without losing sales, since there are no competitors. b. At a given price, it can sell all of the output that it can produce. c. It is able to choose a price & output combination to the right of its demand schedule. d. At a given price it can sell only one particular output level.
Because the price level does not affect the long-run determinants of real GDP, the long-run aggregate-supply is vertical
a. True b. False Indicate whether the statement is true or false
Explain two strengths of monetary policy for achieving economic stability.
What will be an ideal response?