Economic regulation of business is justified if, by intervening, government can
a. improve the allocation of resources in society
b. create economic rents for special interest groups
c. reduce output and increase prices for an industry
d. increase tax revenue from the regulated industry
e. force firms to increase their costs of production
A
Economics
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The real-world money multiplier is greater than the simple money multiplier (1/RR)
Indicate whether the statement is true or false
Economics
A competitive employer should hire additional labor as long as
A. the MRP exceeds the wage rate. B. average product exceeds MP. C. the wage rate is less than MP. D. MC exceeds MR.
Economics