What is the function of the system of federal regulation created by Congress from 1887 until now?
(a) To change the outcomes of market decisions
(b) To enforce the outcomes of market decisions
(c) To replace market allocations with economic planning
(d) To enforce the law
(c)
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Break-even analysis usually assumes all of the following except:
a. in the short run, there is no distinction between variable and fixed costs. b. revenue and cost curves are straight-lines throughout the analysis. c. there appears to be perfect competition since the price is considered to remain the same regardless of quantity. d. the straight-line cost curve implies that marginal cost is constant. e. both c and d
Which of the following is an example of physical capital?
a. the strength of workers b. on the job training c. financial assets like cash and bonds d. the equipment in a factory