The benefits of social regulation usually are
A) small.
B) obvious to people while the costs are hidden.
C) less than the costs of social regulation, reducing overall welfare.
D) difficult to measure.
D
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An increase in government spending will force an appreciation of the dollar, which causes net exports to fall
Indicate whether the statement is true or false
In the economic world of production, there are either price makers or price takers. By price takers we mean that
a. firms buy goods as well as sell them, and when they buy goods at whatever price, they play the role of "takers" b. firms take control of their own markets, charging whatever price they think the market will bear c. firms take the market price as given d. firms create the price and consumers either take it or leave it e. the market takes whatever price the firms charge, which is how the downward-sloping demand curve is created
An economist would be more likely to argue for reducing inflation if she thought that
a. the central bank lacked credibility and if bonds were usually not indexed for inflation. b. the central bank lacked credibility and if bonds were usually indexed for inflation. c. the central bank had credibility and if bonds were usually not indexed for inflation. d. the central bank had credibility and if bonds were usually indexed for inflation.
The U.S. both imports and exports significant quantities of
A. services. B. industrial equipment and services. C. coffee. D. industrial equipment.