Any increase in efficiency increases output available for distribution
a. True
b. False
Indicate whether the statement is true or false
True
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A merger between firms at different stages of production of a good
A) was made illegal by the Sherman Act. B) was made legal by the Clayton Act. C) is a vertical merger. D) is a horizontal merger.
An unemployment insurance program has which of the following effects?
A) It increases the amount of time spent searching for a job. B) It decreases the amount of personal income of the unemployed. C) It contributes to the severity of a recession or economic downturn. D) It lowers the overall unemployment rate.
In the 1960s, banks started __________ in order to maneuver around the Glass-Steagall act
A) opening foreign branches B) using Section 20 affiliates C) forming one-bank holding companies D) dropping Federal Reserve membership
How do participants in an auction respond to the problem of the "winner's curse"?
a. They bid more aggressively to win the auction and avoid the "curse". b. They exit the auction because winning can only be a bad sign of the object's worth. c. All bid less aggressively, so that the winner ends up not regretting having won. d. The winner regrets having won the auction.