Question
1. When a positive externality exists, the quantity of a good produced by the market will be: too high too low just right 67,320.2 2.
1. When a positive externality exists, the quantity of a good produced by the market will be:
too high
too low
just right
67,320.2
2. By the definition, externalities mean that we have a divergence between
private cost and social cost
social cost and unitary cost
private debt and social cost
social benefits and private production
3. AC Pigou says the best way to deal with externalities is
negotiation
granting property rights
quotas
taxes and subsidies
4. ___________ information means that one party knows something important about the transaction that the other party does not.
bilateral
asymmetric
real
bifurcated
5. Regulations are created by the
executive branch
judicial branch
Congress
Warden of the North
6. The process by which we decide how much to value the future compared with the present is called:
regulating
discounting
balancing
integrating
7. When the banks are allowed to write the rules and regulations for banks, write them in a way that favors banks, then have the government pass them, it is called:
regulatory capture
premium discounting
social welfare function
policy lassoing
8. The creation of the Federal Reserve, the Affordable Care Act, and Banking deregulation and re-regulation after the financial panic are all believed to be free of regulatory capture.
True
False
9. The Trump Administration actually didn't eliminate many regulations, because that is hard to do, they have modified them to make it easier or harder to do certain things.
True
False
10. The Trump Administration actually didn't deregulated at all, it was the Obama administration which actually cut down the number of pages in the Federal Register.
True
False
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