Refer to the above figure. Economic profits for this firm are

Since World War II, the Federal Reserve has not been involved in carrying out monetary policy

Indicate whether the statement is true or false

Which of the following is FALSE with respect to regulation?

A) Regulated firms commonly try to avoid the effects of regulation whenever they can. B) Firms engage in creative responses which conform to the letter of the law but undermine its spirit. C) Regulation has resulted in state laws that have made creative response illegal in many states. D) Recent regulations have generated feedback effects that undermined the key aim of the rules.