The two basic types of government regulation are
A. social regulation and labor law.
B. social regulation and economic regulation.
C. economic regulation and industry regulation.
D. regulation of natural monopolies and regulation of cartels.
Answer: B
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A government policymaker suggests "Double the money supply and U.S. citizens' real incomes will double." In the long run, is this policy advice correct?
What will be an ideal response?
Everything else held constant, a decrease in the required reserve ratio on checkable deposits will mean
A) a decrease in the money supply. B) an increase in the money supply. C) a decrease in checkable deposits. D) an increase in discount loans.
If you believe that expectations react quickly, you are likely a
A. believer in rational expectations. B. Keynesian. C. theoretical economist. D. None of the above is correct.
Citizens have a strong incentive to monitor local government because _____
a. as citizens it is their duty to do so b. the level of government services directly affects their utility because they consume them every day c. it is easy to observe the level and quality of nearby governments d. the cost and quality of local government services are reflected in housing prices