According to "Sleep Rules Raise Trucking Costs," in 2013 the Federal Motor Carrier Safety Administration estimated the new rules regulating the transportation industry would cost trucking companies about $2 billion. What benefits did the government expect from the costly regulations?
A. Reduced wear and tear on highways.
B. Punishment of an excessively profitable industry.
C. Increased efficiencies.
D. Reduced highway fatalities.
Answer: D
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Which of the following statements correctly differentiates between unemployed workers and discouraged workers?
A) Unemployed workers refer to the skilled workers who have been laid off, while discouraged workers refer to the unskilled workers who have lost their jobs. B) Unemployed workers are counted in the labor force, but discouraged workers are excluded from the labor force. C) Unemployed workers do not have a paid job, while discouraged workers have a paid job. D) The unemployment benefits received by unemployed workers are not capped, while the unemployment benefits received by discouraged workers are capped at a maximum.
Refer to Figure 19-12. The graph above, depicts supply and demand for U.S. dollars during a trading day. At a fixed exchange rate of 0.30 pounds per dollar, the dollar is ________ versus the pound
A ________ of the dollar would correct the fundamental disequilibrium that exists in this market. A) overvalued; revaluation B) overvalued; devaluation C) undervalued; devaluation D) undervalued; revaluation
If the forward exchange rate of the dollar in terms of pounds is less than the spot exchange rate,
A) inflation must be lower in the United States than in Britain. B) inflation must be higher in the United States than in Britain. C) market participants must be expecting the dollar to appreciate against the pound. D) market participants must be expecting the dollar to depreciate against the pound.
The income effect of a decrease in the price of legal services (a normal good) is a(n)
a. decrease in the demand for legal services b. decrease in the quantity demanded of legal services c. increase in the demand for legal services d. increase in the quantity demanded of legal services e. new demand curve because everything else is no longer constant