When the government deregulates a product or service, what happens to it?
(A) Some government regulations over the industry are eliminated.
(B) Government control over the industry is stopped.
(C) The product or service is available to more people.
(D) The product or service becomes cheaper.
Ans: (A) Some government regulations over the industry are eliminated.
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Figure 4-25
Refer to . The benefit to the government is
a.
measured by tax revenue and is represented by area A + B.
b.
measured by tax revenue and is represented by area B + D.
c.
measured by the net gain in total surplus and is represented by area B + D.
d.
measured by the net gain in total surplus and is represented by area D + E.
One of the administrative bodies responsible for initiating actions on behalf of the U.S. government against individuals or companies violating antitrust laws is the
A. Federal Utility Commission. B. Interstate Commerce Commission. C. Federal Reserve Bank. D. Antitrust Division of the Justice Department.