The capture theory of regulation, espoused by George Stigler, asserts that
a. consumers "capture" regulatory agencies so that regulation favors consumers
b. producers "capture" regulatory agencies so that regulation favors producers
c. regulators "capture" producers and limit their market power
d. consumers "capture" some consumer surplus lost to monopoly
e. consumers and producers work together to "capture" regulatory agencies in order to achieve more desirable regulation
B
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A Lorenz curve that represents an unequal income distribution is
A) a straight line starting at the origin. B) a straight line starting at 100% C) a bowed curved. D) a line that has a kink in the middle of it.
What is the most probable reason why garbage men have higher wages than waiters?
A. Marketplace discrimination B. Active unionization in the garbage collection field C. Higher demand for garbage men than nurses D. The nonmonetary attractiveness of garbage collection causing fewer people to want to be garbage men