The techniques of regulation used in the U.S. are
(a) meant to solve basic problems, but they create others.
(b) meant to re-enforce the "decisions of the marketplace."
(c) meant to manage problems rather than solve them.
(d) designed to make the economy more efficient than is possible with only the free market mechanism.
(a)
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If demand increases, the equilibrium price and equilibrium quantity will both fall, everything else being equal.
Answer the following statement true (T) or false (F)
If a large number of firms are competing, the market could be
A) perfect competition or monopolistic competition. B) perfect competition or monopoly. C) monopolistic competition or oligopoly. D) monopolistic competition or monopoly. E) oligopoly or monopoly.
What adjusts to restore general equilibrium after a shock to the economy?
A) The LM curve B) The IS curve C) The FE line D) The labor supply curve
Assume the marginal propensity to consume is .8 . To offset a fall in income of 1,000, the government should
a. increase taxes by $200. b. raise taxes by $250. c. increase government spending and taxes by 1,000. d. cut taxes by $200. e. both c and d.