The idea behind antitrust legislation is to
A) promote competition in the market.
B) justify deregulation of industries.
C) implement contestable markets.
D) create larger firms.
Answer: A
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The above table presents data from the nation of Pacifica. Aggregate planned expenditure equals $7.5 trillion when real GDP equals
A) $4.0 trillion. B) $8.5 trillion. C) $7.5 trillion. D) $6.0 trillion. E) $8.0 trillion.
The two types of trade, intertemporal and pure asset swap ________ perfect substitutes, because ________
A) are; they both offer considerable payoff and are equal in the long run B) are; they both involve the smoothing out of now and future consumption C) are not; asset swapping is immediate and involves only assets, while intertemporal trade takes two time periods and involves both assets and goods/services D) could possibly be; different economic states occur at different points in time E) are not; asset swapping never relates to intertemporal trade
You and two partners start a company. However, your partners play no role in running the company. You devote all our time and talent to run your own business rather than working for someone else. You incur an(a):
a. explicit cost. b. marginal cost. c. sunk cost. d. opportunity cost.
The unemployment rate is defined as: a. unemployed workers plus discouraged workers, divided by the total population over the age of sixteen. b. part-time workers plus full-time workers, divided by the total population over the age of sixteen
c. the percentage of the labor force that is unemployed. d. the percentage of the population over the age of sixteen that is unemployed.