One reason to require medical practitioners to be licensed is that
A. medical care involves substantial externalities.
B. medical care is a public good.
C. medical care is so expensive.
D. medical care consumers lack perfect information.
Answer: D
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In order to effectively price discriminate, one requirement is that a seller must be able to:
A. identify customers with different reservation prices. B. reduce costs when producing the discounted item. C. resell the product. D. avoid detection because price discrimination is illegal.
When there are many thousands of small stockholders in a company, for each the cost of monitoring manager performance is well __________ the benefits of doing so, which helps __________ the manager-stockholder problem
A) above; alleviates B) above; brings on C) below; alleviates D) below; brings on
Economists who think the capture theory explains regulatory behavior will support their claims by noting that
A) regulation as carried out in this country generates larger profits for the firms and does not generate lower prices for consumers. B) consumers actually dominate regulatory hearings through the influence of consumer advocacy groups. C) Congress ensured that consumers have more influence on the decisions of regulators by setting up the agencies in ways that insulated the regulators from the regulated firms. D) the firms that are regulated have greater incentive to try to influence regulators than do consumers.
Total government spending in the U.S. economy was around _____ of the GDP in the financial year 2010
a. 5 percent b. 36 percent c. 25 percent d. 44 percent e. 16 percent