Antitrust law is the law that regulates ________ and prevents them from becoming ________
A) oligopolies; monopolies
B) monopolies; oligopolies
C) monopolistically competitive firms; oligopolies
D) oligopolies; monopolistically competitive firms
A
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The real interest rate is equal to the
A) nominal interest rate plus the inflation rate. B) nominal interest rate minus the inflation rate. C) nominal interest rate times the inflation rate. D) nominal interest rate divided by the inflation rate. E) inflation rate minus the nominal interest rate.
An economic profit is
A) an opportunity cost of the company. B) a cost that is always measured by the accountant. C) the amount of profit an accountant calculates for a company. D) not the same as the company's normal profit.
If income elasticity is positive, a product is inferior
Indicate whether the statement is true or false
Which organization officially tracks all business cycles in the U.S. economy?
a. Department of Commerce b. National Bureau of Economic Research c. Bureau of Economic Analysis d. Census Bureau