Government regulation of the prices charged by monopolies is an example of
a. safety regulation
b. economic regulation
c. Herfindahl regulation
d. antitrust regulation
e. antimerger regulation
B
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Sugarcane can be used to produce both granulated sugar and ethanol. Recent regulations in certain countries now permit a higher amount of ethanol to be added to gasoline. As a result of these changes, an economist would expect granulated sugar prices to ____, and quantity sold to ____.
A. rise; rise. B. fall; fall. C. rise; fall. D. fall; remain the same.
The marginal physical product of labor is
A) the output of the firm divided by the number of workers. B) the change in total revenues resulting from the addition of one more worker, while increasing one other factor of production. C) the change in output resulting from the addition of one more worker, holding other factors of production constant. D) the change in output resulting from the addition of one more worker, adjusting the level of the capital stock accordingly.
An increase in the interest rate will: a. increase the amount of money supplied by lenders
b. decrease the amount of money supplied by lenders. c. have no effect on the amount of money supplied by lenders. d. have an ambiguous effect on the amount of money supplied by lenders.
A graphic illustration of the cumulative size distribution of income is known as the
A. Okun curve. B. Gini coefficient. C. Size distribution of income. D. Lorenz curve.