Supporters of social regulation contend that:
A. The existence of natural monopoly requires a regulatory response from government
B. There is a pressing need to eliminate price fixing in U.S. business
C. Higher costs are the price that must be paid for a better society
D. Benefits of public ownership of businesses are greater than the costs
C. Higher costs are the price that must be paid for a better society
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The life-cycle hypothesis predicts there to be a rather ________ short-run multiplier and thus a rather ________ private economy
A) low, unstable B) low, stable C) high, unstable D) high, stable
A typical professional National Football League team has three quarterbacks on its roster. What is one reason why they might not have a fourth quarterback?
A) The fourth quarterback's marginal product is approximately zero. B) The fourth quarterback's marginal product is approximately ten. C) The fourth quarterback's marginal product is less than the first quarterback's marginal product. D) There is a law against carrying four quarterbacks on a team.