The first antitrust law was the __________________________.
Fill in the blank(s) with the appropriate word(s).
Sherman Antitrust Act
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Under fractional banking, when a bank lends to a customer
A. the money supply increases. B. bank profitability is decreased. C. the bank is protected from a run. D. bank credit decreases.
The three basic types of unemployment are _____, _____, and _____.
Fill in the blank(s) with the appropriate word(s).
Recall the Application about the break-even price for growing switchgrass, a perennial grass that is native to the U.S. plains states and is used to create biofuel, to answer the following question(s).Recall the Application. If the minimum average total cost for switchgrass farmers is $55 per ton and the minimum average variable cost is $40 per ton, then at a price of $35 per ton in the short run the switchgrass farmer will:
A. shut down, that is, bring no switchgrass to market. B. operate and lose money. C. make a zero economic profit. D. make a positive economic profit.
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease