In the ALCOA Case of 1945, the courts held that:
A. firms that sell more than half of their output overseas are exempt from antitrust legislation.
B. retail and wholesale firms are exempt from antitrust legislation.
C. only contracts and combinations that unreasonably restrain trade are in violation of the Sherman Act.
D. the mere possession of monopoly power is a violation of the antitrust laws.
D. the mere possession of monopoly power is a violation of the antitrust laws.
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Venture capital funds invest in the equity of
A) start-up companies. B) IPOs. C) hedge funds. D) convertible debt.
If the government wishes to increase GDP by $1,000b, and the MPC is 0.6, it should increase its spending by:
A. $250b. B. $400b. C. $600b. D. $1,000b.
Suppose aggregate demand is too low to bring about the Natural Real GDP level. A Keynesian policy prescription would call for a(n) _____________________ to close this recessionary gap
A) increase in government spending B) decrease in government spending C) increase in taxes D) decrease in taxes E) a or d
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline