The primary purpose of antitrust legislation is to
a. protect small business
b. protect the competitiveness of U.S. business
c. protect the prices of American-made products
d. ensure American labor is paid a fair wage
e. ensure firms earn only a fair profit
B
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M1 differs from M2 in that:
A. M2 includes savings deposits, small-denomination time deposits, and money market mutual funds that are not included in M1. B. M1 includes currency and balances held in checking accounts, which are not included in M2. C. the assets in M2 are more liquid than the assets in M1. D. M1 is a broader measure of the money supply than M2.
Which of the following is the best example of an oligopolistic industry?
A) public education B) the beef market C) the beauty products industry D) the pharmaceutical industry
An appreciation of a country's currency
A) decreases the relative price of its exports and lowers the relative price of its imports. B) raises the relative price of its exports and raises the relative price of its imports. C) lowers the relative price of its exports and raises the relative price of its imports. D) raises the relative price of its exports and lowers the relative price of its imports. E) raises the relative price of its exports and does not affect the relative price of its imports.
Barriers that prevent the entry of new firms may arise because: a. economies of scale exist over a substantial range of industry demand. b. marginal revenue is less than average total cost
c. the government protects some firms from competition. d. of both (a) and (c).