The principal objective of industrial regulation is to:
A. Increase product safety
B. Promote improvements in the quality of life
C. Protect the consuming public from the market power of natural monopolies
D. Solve problems associated with industry such as the problems of water and air pollution
C. Protect the consuming public from the market power of natural monopolies
You might also like to view...
The imposition of a minimum wage in the unskilled labor market creates labor surplus or unemployment
a. True b. False Indicate whether the statement is true or false
Which of the following contributed to the weak recovery from the 2008-2009 recession?
a. the restrictive monetary policy followed by the Fed b. constant policy changes that created uncertainty and thereby retarded private business investment c. sharp reductions in federal spending that were designed to achieve a balanced federal budget d. failure to run budget deficits that were large enough to exert an impact on aggregate demand
Goods that are not excludable include both
a. private goods and public goods. b. club goods and common resources. c. common resources and public goods. d. private goods and club goods.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.