Which of the following is the best example of the "command" process?
A) United Airlines buys Northwest Airlines.
B) Striking auto workers force General Motors to shut down its factories.
C) Banks raise their fees on late payments by credit card holders.
D) The FCC requires local telephone companies to provide access to their local networks before being able to offer long distance service.
D
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XYZ Corporation operates in a perfectly competitive market and is currently maximizing profit. To keep the firm's costs low, XYZ's managers have decided to dump waste in a nearby river
Explain why the level of output currently produced by XYZ is not efficient.
A majority of federal revenue once came from tariffs
a. True b. False
Government intervention in agricultural markets was
a. ruled unconstitutional by the Supreme Court in 1936 b. initially introduced to promote agricultural exports and to curb agricultural imports from other countries, especially from Spain c. initially designed to help consumers by legislating farm prices below their equilibrium levels d. started in 1933 e. initially designed to promote productivity and to decrease the number of farms in the economy
Income inequality in the United States has increased somewhat over the past 25 years. Two factors that appear to have contributed to this are
A) rapid technological change and expanding international trade. B) strong economic growth and low inflation. C) tax cuts on high-income individuals and large increases in prices of stocks. D) outsourcing of jobs by U.S. firms and cuts in taxes on capital gains.