Command-and-control regulation, as compared to incentive-based regulation, is:
A. efficient in the short run and in the long run.
B. efficient in the short run, but not in the long run.
C. inefficient in the short run, but efficient in the long run.
D. inefficient in the short run and long run.
Answer: D
Economics
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According to the figure above, which point or points correspond to full employment?
A) only point a B) only point b C) only point c D) points a and b E) points a, b, and c
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If U.S. exports are $300 billion and U.S. imports total $350 billion, which of the following is correct?
a. The U.S. has a trade surplus of $350 billion. b. The U.S. has a trade surplus of $50 billion. c. The U.S. has a trade deficit of $350 billion. d. The U.S. has a trade deficit of $50 billion.
Economics