Which of the following would NOT reduce the natural rate of unemployment?
A) a tax cut
B) an increase in government expenditures
C) wage or price controls
D) all of the above
D
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To allow a public utility (which is a natural monopoly) to earn only a normal profit, the government should
a. do all of the following b. set price equal to average cost c. equate marginal cost and average cost d. set marginal cost equal to marginal revenue e. set price equal to marginal cost
The first step in gradualism is
a. the privatization of larger industrial sectors b. the phasing out of money-losing enterprises c. large industrial enterprises quickly finding market-clearing prices d. the thriving of small-scale capitalism e. state-owned enterprises running more like businesses to maximize profit
The federal funds rate is the interest rate:
a. On U.S. interbank loans. b. The Federal Reserve changes banks that borrow from it. c. The World Bank charges to central banks. d. Central banks charge individuals. e. U.S. financial institutions pay to their best (i.e., largest) depositors.
The main advantage of a corporate form of organization is that
A. shareholders have unlimited liability. B. all corporate profits must be distributed as dividends. C. shareholders have limited liability. D. shareholders are not subject to double taxation.