The purpose of the Horizontal Merger Guidelines developed by the Department of Justice and the FTC is to prevent customers from being harmed by the increased market power that might result from a merger of two or more firms
Indicate whether the statement is true or false
TRUE
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According to the paradox of thrift, the more people try to save, the more income falls, leaving them with no more, and possibly less, income
Indicate whether the statement is true or false
Most economists believe that classical macroeconomic theory is a good description of the economy
a. in neither the short nor long run. b. in the short run and in the long run. c. in the short run, but not in the long run. d. in the long run, but not in the short run.
Refer to Figure 11.1. Assume aggregate demand is represented by AD1, full-employment output is $6.0 trillion, and the MPC is 0.75. The spending fiscal stimulus needed to reach full-employment equilibrium is
A. $0.4 trillion B. $2 trillion. C. $1 trillion. D. $0.1 trillion.
Which of the following is the best measure of size of government as a share of the economy?
A) total government expenditures as a percentage of GDP B) the supply of money as a percentage of GDP C) public consumption plus private investment as a percentage of GDP D) private consumption as a percentage of Gross Domestic Product