The interest rate is determined purely by market forces, and not by government involvement
a. True
b. False
Indicate whether the statement is true or false
False
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Which type of regulation applies to all firms in the economy, as opposed to only covering specific industries?
A) economic regulation B) social regulation C) rate regulation D) statutory regulation
In the United States, federal efforts to clean up the environment are coordinated by the
a. Environmental Protection Agency b. Department of the Interior c. State Department d. Department of Agriculture e. Department of Justice
Marginal utility is
A. the utility obtained from the consumption of all but the last unit of a good. B. the change in utility that results from increasing the amount of a good consumed by one unit. C. the relative value of two goods when a utility-maximizing decision has been made. D. the change in the amount of a good consumed that increases total utility by one unit.
A firm in an oligopoly is similar to a monopoly in that:
A. Both firms do not face competition from others B. Both firms could have significant market power and control over price C. Both firms face very inelastic demand for their products D. Both firms do not need to advertize