The per se rule was introduced in the:
a. Standard Oil case.
b. U.S. Steel case.
c. American Tobacco Trust case.
d. Alcoa case.
d
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The reserve requirement ensures that the central bank of a country focuses only on keeping the inflation rate at a low level
a. True b. False Indicate whether the statement is true or false
Gamma has $30,000 of capital per worker, while Omega has $7,500 of capital per worker. In all other respects, the two countries are the same. According to the principle of diminishing returns to capital, an additional unit of capital will increase output ________ in Gamma compared to Omega, holding other factors constant.
A. less B. not at all C. more D. by the same amount
Because of scarcity, rationing is
A) unimportant because people get what they want. B) necessary because people cannot get everything they want. C) unimportant because prices clear markets. D) not a problem because governments can determine what everybody wants.
All of the following fiscal policies will contribute to increasing budget deficits except:
a. tax cuts. b. increases in defense expenditures. c. increases in Social Security payments to the elderly and disabled. d. cuts in aid to farmers.