When the government created the Consumer Product Safety Commission they created what type of government regulation?
a. social regulation
b. economic regulation
c. antitrust policy
d. none of the above
a
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When income increases from $30,000 a year to $40,000 a year, the quantity demanded of weekend vacations by Sara increases from 2 a year to 5 a year
For Sara, the income elasticity of demand of weekend vacations is ________ and weekend vacations are ________ good. A) 3; a normal B) 4.5 a normal C) 1/3; an inferior D) -4.5; an inferior E) 1/3; a normal
For equilibrium in an open four sector economy:
a) Actual injections = actual withdrawals b) Planned injections = planned withdrawals c) Savings = investment d) Government spending = tax revenue
When firms have the ability to change the market price of a good or service, the market failure involved is:
A.) Market power. B.) Public goods. C.) Externalities. D.) Inequities.
Which of the following would be a macroeconomic question?
A) How has the price of gold increased over time? B) How has the number of commercial airline flights decreased over time? C) How have the retirement benefits in the auto industry changed over time? D) How has inflation increased over time?