In the 1945 Alcoa antitrust case, the Court found Alcoa:
A. not guilty of violating the Sherman Antitrust Act because it was a good monopoly.
B. did not have a good reason for having a large market share, so found it guilty.
C. guilty because its firm size was a per se violation of antitrust laws.
D. not guilty because it did not engage in any illegal or unfair acts.
Answer: C
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Suppose the marginal propensity to consume (MPC) is 0.8 and there is a $2,000 increase in autonomous consumption. Given this information, real GDP will increase by
A) $10,000. B) $2,500. C) $1,600. D) $2,000.
Suppose the United States' production possibility frontier was flatter to the widget axis, whereas Germany's was flatter to the butter axis. We now learn that the German mark sharply depreciates against the U.S. dollar. We now know that
A) the United States has no comparative advantage B) Germany has a comparative advantage in butter. C) the United States has a comparative advantage in butter. D) Germany has a comparative advantage in widgets. E) Germany has lost its comparative advantage.
When stock prices fall
A) an individual's wealth is not affected nor is their willingness to spend. B) a business firm will be more likely to sell stock to finance investment spending. C) an individual's wealth may decrease but their willingness to spend is not affected. D) an individual's wealth may decrease and their willingness to spend may decrease.
Which of the following goods is least liquid?
A. Cash B. Checking account C. Car D. House