One way to attain a faster rate of economic growth would be to shift some resources from the production of _________ goods to the production of __________ goods.

In 1984, the National Minimum Drinking Age Act was passed, raising the legal age to consume alcoholic beverages in the United States from 18 to 21

If the legal drinking age was changed back to 18, how would this affect the market for alcoholic beverages? What would happen to the equilibrium price and quantity of alcoholic beverages?

Rate of return regulation, as currently applied to many natural monopolies such as public utilities,

A) generally involves the use of price caps. B) gives the firms an incentive to inflate their costs. C) gives the firms an incentive to cut their costs as much as possible. D) generally keeps their prices higher than if they were unregulated monopolists.