The idea that competition is in some circumstances insufficient to achieve allocative efficiency ensure fairness to consumers and competing firms, is most closely associated with which anti-trust perspective?
A. Laissez-faire
B. Herfindahl
C. Passive
D. Active
D. Active
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Since about 1980,
a. production worker pay in the U.S. has grown faster than CEO pay b. the typical U.S. CEO has come to earn more than the typical NBA basketball player c. CEO pay in Europe has grown much faster than CEO pay in the U.S. d. CEO pay in the U.S. has grown to a very large multiple of production worker pay e. the ratio of CEO pay to production worker pay in the U.S. has not changed much, although both groups receive much high pay now
Economic decision making recognizes that
A) all choices have benefits and costs. B) benefits are largely free while costs are not. C) costs are controllable but benefits are not measurable. D) prices do not reflect all information known to managers. E) resources and wants are limited.
Under a riparian system, water rights
a. Are allocated according to its most highly-valued uses b. Are separate from the ownership of land c. Are based on who moved to an area first d. Are freely traded in water markets e. Are owned by those owning adjacent land
Which of the following are tools used by the Fed to implement monetary policy?
A. Printing Federal Reserve notes B. Open market operations C. Minting coins D. Regulating banks activities