"Anticompetitive practices" are actions by a powerful firm that:
a. threaten to destroy competitors
b. force competitors to compete less vigorously
c. prevent the entry of new rivals.
d. all of these are true.
d
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If market prices help inform individuals about the relative scarcities of goods and services, then abolishing market prices would
A) finally allow people to overcome scarcity. B) eliminate important information. C) abolish the dog-eat-dog mentality of market competition. D) tend to create permanent surpluses of most goods. E) accomplish all of the above.
What is MFN status? How does the WTO reconcile the principle of equal treatment with the preferential treatment created by regional trade agreements?
What will be an ideal response?
Nonactivists propose doing nothing in the face of economic hardship because ________
A) activist policies can kick in at the wrong time and be counterproductive B) "markets self-correct pretty rapidly anyway" C) in the face of high unemployment, activist policies would likely lead to surges in inflation D) all of the above E) none of the above
A graph illustrating the relationship between the quantity of money demanded and the interest rate would have a slope that is:
a. positive. b. negative. c. horizontal. d. vertical.