Each of the following were created under the New Deal EXCEPT
A. Social Security.
B. the Federal Deposit Insurance Corporation (FDIC).
C. the Securities and Exchange Commission (SEC).
D. food stamps.
D. food stamps.
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In order for a Pigouvian subsidy to be efficient, the amount it costs the government to implement the subsidy must be less than the economic value of the additional externality benefits created by the subsidy.
Answer the following statement true (T) or false (F)
The government raises the sales tax on shirts. The tax is imposed on sellers. As a result, the ________
A) supply curve of shirts shifts leftward B) supply curve of shirts shifts rightward C) demand curve for shirts becomes vertical D) demand curve for shirts becomes horizontal
Following housing market collapse, U.S. personal saving rates have
A) increased. B) decreased. C) remained the same. D) data not yet available.
Dumping refers to
A) selling inferior products to unsuspecting consumers. B) selling a product for a price below its cost of production. C) exporting products that do not meet domestic safety standards. D) illegally avoiding tariffs by selling products on the black market.