Suppose a U.S. dollar exchanges for 0.8 euros, then each euro is worth

Suppose technical change makes it cheaper for cable television suppliers to supply their service. The capture theory would predict that the regulators would

A) allow the firms to capture the savings and would lower price only if the firms asked them to. B) force the firms to pass the savings on to consumers in the form of lower prices. C) force the firms to pass the savings on to consumers in the form of better service. D) force the firms to pass some of the savings on to consumers and permit them to keep some of the savings for themselves.

Modern inventions, like the Internet or discoveries in genetics or materials science, seem to provide smaller gains to output than earlier inventions like the steam engine or the railroad

a. True b. False Indicate whether the statement is true or false