The Clayton Act was passed, in part, to strengthen the Sherman Act.
Answer the following statement true (T) or false (F)
True
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Explain why economists consider it to be one of the economic functions of government to provide a legal system
What will be an ideal response?
Aggregate demand represents the _____ at alternative price levels
a. total spending in the economy b. total saving in the economy c. total money demand in the economy d. total output of the economy e. total money supply in the economy
Keynesian economists believe that
a. the velocity of money is stable b. changes in the money supply do not affect output c. there is a one-to-one correspondence between M and P in the equation of exchange d. the velocity of money is predictable e. the velocity of money is affected by changes in expectations
The supply function for good X is given by Qxs = 200 + 4PX - 3PY - 5PW, where PX is the price of X, PY is the price of good Y and PW is the price of input W. If PX = 500, PY = 250, PW = 30, then the supply curve is
A. Qxs = 1300. B. Qxs = -700 + 4Px. C. Qxs = 150 + 4Px. D. Qxs = -550 + 4Px.