A criticism of social regulation is that it:
A. Contributes to the growth of natural monopoly
B. Increases the rate of innovation in the economy
C. Decreases the influence of the Federal government on business
D. Results in many unintended and costly side effects
D. Results in many unintended and costly side effects
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In the figure above, the second poorest 20 percent of households receive ________ of total income
A) 5 percent B) 10 percent C) 15 percent D) 20 percent
Break-even quantity is a point where
a. Level of profit is maximized b. Level of cost is minimized c. Only variable costs are covered d. There is neither a profit nor a loss
The protectionist view
a. argues that nations should protect their borders from transboundary pollution b. believes that trade can create unfair competition or lose jobs to other nations c. supports environmental policy only if it protects domestic jobs d. ignores environmental issues, focusing only on the effects of trade on competition and employment
If we accept the principle of “caveat emptor” - “let the buyer beware,” why then is there concern about the ethics of advertising. If the consumer is responsible to make the decision, is there anything to justify restricting the advertiser? Explain your view.
What will be an ideal response?