The landmark antitrust case which established that size alone is not sufficient to prove an antitrust violation is the
a. U.S. Steel case
b. Brown Shoe case
c. Von's Grocery case
d. ALCOA case
e. Pabst Brewing case
A
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For an economy that engages in international trade, GDP is divided into four components. Which of the following items is not one of those components?
a. consumption. b. national saving. c. government purchases. d. net exports.
The marginal propensity to save (MPS) can be found using the equation: (1 - MPC)
Indicate whether the statement is true or false
Assume a two-country, two-commodity, two-input model where the following relationships hold:(K/L)U.S. > (K/L)ROW(K/L)automobiles > (K/L)shoes (K/L)U.S. is the capital-labor ratio in the United States, (K/L)ROW is the capital-labor ratio in the Rest of the World, (K/L)automobiles indicates the capital-labor ratio in the production of automobiles, and (K/L)shoes indicates the capital-labor ratio in the production of shoes.Assume further that technology and tastes are the same in the United States and the Rest of the World. According to the Heckscher-Ohlin model, free trade between the United States and the Rest of the World would result in
A. an improvement in economic well-being in both the United States and the Rest of the World. B. no change in economic well-being in the United States but an improvement in economic well-being in the Rest of the World. C. deterioration of economic well-being in the United States but an improvement in economic well-being in the Rest of the World. D. an improvement in economic well-being in the United States but deterioration of economic well-being in the Rest of the World.
The demand curve for the product of a monopolistic competitor
A) is the same as the market demand curve. B) is horizontal. C) is vertical. D) slopes downward.