The first important law regulating monopolies in the United States was
A) the Clayton Act, which was passed in 1890.
B) the Sherman Act, which was passed in 1890.
C) the Grant Act, which was passed in 1890.
D) the Federal Trade Commission Act, which was passed in 1914.
B
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In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. The loss of producer surplus
A) is smaller than the gain in consumer surplus. B) is larger than the gain in consumer surplus. C) is the same size as the gain in consumer surplus. D) could be smaller than, larger than, or the same size as the gain in consumer surplus.
In 2008, Japan's government approved a $1 trillion fiscal stimulus plan comprised of both tax cuts and government expenditure increases. As a result
A) Japan's aggregate demand curve shifted rightward. B) Japan's aggregate supply curve shifted leftward. C) Japan's aggregate demand curve shifted leftward. D) Japan's long-run aggregate supply curve shifted leftward.
In the figure above, the Lorenz curve that shows the least inequality, but NOT perfect equality, is
A) curve A. B) curve B. C) curve C. D) curve D.
The supply curve for money ________
A) is upward sloping with respect to interest rates B) is fixed to a specified interest rate C) is fixed regardless of the interest rate D) is downward sloping with respect to interest rates E) none of the above