Beginning in 1965, the head of the Antitrust Division of the U.S. Department of Justice began to change antitrust policy. How did antitrust policy change?
A) For the first time horizontal mergers were allowed—with government approval—and vertical mergers were allowed without need for approval from the government.
B) For the first time concentration ratios were used to evaluate the degree of competition in the industries of firms that proposed mergers.
C) Proposed mergers no longer needed the approval of the Federal Trade Commission or the court system.
D) The Division began to systematically consider the economic consequences of proposed mergers.
D
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In the IS curve, if Y increases for any given level of the real interest rate ________
A) consumption increases B) output decreases C) saving decreases D) all of the above E) none of the above
The marginal propensity to consume is:
a. the change in income divided by the change in consumption. b. consumption spending divided by income. c. income divided by consumption spending. d. the change in consumption divided by the change in income. e. the change in consumption divided by income.
If a nation's currency depreciates, this will tend to
a. shift a nation's balance of trade toward a deficit. b. cause a deficit in the government's budget (expenditures - revenues). c. make foreign goods more expensive for the nation's citizens. d. make foreign goods cheaper for the nation's citizens.
According to the text, which of the following statements BEST describes U.S. factor abundance in 1947?
a. Taking into account different labor productivities, the U.S. "effective" labor force was much larger than the "effective" labor force in the rest of the world. b. Taking into account different labor productivities, the U.S. '"effective" labor force was much smaller than the "effective" labor force in the rest of the world. c. Taking into account productivities of capital in different industries, the U.S. "effective" capital stock was much smaller than the '"effective" capital stock force in the rest of the world. d. Corrected data indicate that the United States was actually was a laborabundant and capitalpoor country in 1947.