Equilibrium
What will be an ideal response?
the point of balance at which the quantity demanded equals the quantity supplied.
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The capture theory of regulation assumes that regulation benefits
A) producers. B) consumers. C) government. D) the general public. E) the regulators.
When the aggregate demand curve and the short-run aggregate supply curve intersect,
A) the economy is in short-run macroeconomic equilibrium. B) inflation must be increasing. C) structural and frictional unemployment equal zero. D) the long-run aggregate supply curve must also intersect at the same point.
If the quality or quantity of a particular public service is very difficult to monitor, government is more likely to
a. produce the service itself b. contract with private firms to supply the service c. take over private corporations to produce the service d. refuse to provide the service e. raise the price to consumers of the service
Why did the attempts by some airlines to introduce uniform pricing for all air trips in 1980s and 1990s fail?