Which of the following is NOT an objective of economic regulation?
A) to regulate the prices enterprises are allowed to charge
B) to fix prices so that they are never allowed to rise
C) to keep rates of return in an industry at a competitive level
D) to prevent monopoly profits
B
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If total utility increases at a decreasing rate as a consumer consumes more coffee, then marginal utility must
A) decrease. B) remains constant. C) be negative. D) increase also.
The market for control of corporations serves to
A) create moral hazard. B) address the principal-agent problem. C) add to economies of scale. D) address the problem of adverse selection.
The burden of a luxury tax most likely falls more heavily on sellers because demand is more elastic and supply is more inelastic
a. True b. False Indicate whether the statement is true or false
Which of the following is the same as a currency union?
A) a monetary union B) a currency pact C) a monetary pact D) a monetary area