Deregulation of the railroad, airline, and electricity industries has yielded substantial benefits: more competition, lower prices, and improved services.
Answer the following statement true (T) or false (F)
True
In these industries, changing consumer demands, new technologies, and substitute goods made existing regulations obsolete and even counterproductive.
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Refer to the information provided in Figure 31.1 below to answer the question(s) that follow.
Figure 31.1Refer to Figure 31.1. Economic growth is represented by
A. a movement from Point A to Point B along ppf1. B. a shift in the production possibilities frontier from ppf2 to ppf3. C. a movement from Point C to Point B. D. a movement from Point B to Point A.
In the Keynesian model, an increase in real autonomous spending results in a greater increase in real Gross Domestic Product (GDP) if
A) the marginal propensity to consume (MPC) is lower. B) the marginal propensity to consume (MPC) is higher. C) the average propensity to save (APS) is higher. D) the average propensity to save (APS) is lower.
Economic inefficiency exists when
A) P = MR. B) P = MC. C) MR = MC. D) P > MC.
As the interest rate increases, _____
a. the supply of loanable funds increases b. the supply of loanable funds decreases c. the quantity supplied of loanable funds increases d. the quantity supplied of loanable funds decreases