Which of the following federal agencies is engaged in economic regulation?
A) Occupational Safety and Health Administration
B) Federal Motor Carrier Safety Administration
C) Food and Drug Administration
D) Consumer Product Safety Commission
B
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When any effort by government causes the supply of a good to rise, what happens to the supply curve for that good?
(A) The supply curve is not affected. (B) It shifts to the right. (C) It shifts to the left. (D) It reverses direction.
Baseball teams shut down in the winter. This is an example of
A) permanently leaving the industry because price is less than average fixed cost. B) temporarily leaving the industry because price is less than average variable cost. C) temporarily leaving the industry because price is less than average fixed cost. D) permanently leaving the industry because price is less than average variable cost.