Government regulation is best applied in cases_____
a. where the marginal benefit of the regulation is greater than the cost of the bureaucracy
b. where imposed rules can increase efficiency more than govt. production would
c. where the marginal benefit of regulation improves the cost efficiency of the producers
d. where imposed rules can increase efficiency more than a public/private partnership would
b
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Discretionary fiscal policy is handicapped by
A) lawmaking time lags, induced taxes, and automatic stabilizers. B) lawmaking time lags, estimation of potential GDP, and economic forecasting. C) economic forecasting, lawmaking time lags, and induced taxes. D) automatic stabilizers, lawmaking time lags, and potential GDP estimation. E) automatic stabilizers, the multipliers, and potential GDP estimation.
Nathan owns a bakery that bakes only cakes. All of his bakers work 8 hours per day. In 2011, he employed 5 bakers who produced a total of 200 cakes each day. In 2012, he employed 6 bakers who produced a total of 249 cakes each day. The bakery's productivity
a. decreased by 2.33%. b. increased by 2.33%. c. increased by 3.75%. d. increased by 24.50%.