Regulatory agencies always protect consumers by forcing regulated firms to sell at the lowest possible price.
Answer the following statement true (T) or false (F)
False
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For most developing countries
A) productivity is high among domestic workers. B) population growth and illiteracy rates are low. C) saving and investment levels are high. D) agricultural goods and raw materials constitute a high proportion of domestic output. E) pollution emissions are relatively low.
"Lower marginal tax rates encourage people to work, save, and invest, resulting in more output and a larger tax base." This statement most closely reflects which of the following schools of economic thought?
a. Keynesian. b. Adam Smithian. c. Aggregate demandian. d. Supply-side economics.
Which of the following illustrates government acting as a referee?
A. Taxing high income persons B. Enforcing contract provisions between buyer and seller C. Buying new weapons for defense D. Mailing checks to Social Security recipients E. Collecting data on imports and exports
Refer to the given figure.
________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________.
A. Falling; B: C B. Rising; A; C C. Falling; A; C D. Rising; A