Most economists agree that the economy will adjust to a recessionary gap, but the adjustment process
a. is rapid and destabilizing.
b. is moderately quick, but not as rapid as necessary.
c. takes place solely on the supply side.
d. is very slow.
d
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The value of the discount weight used to translate utils into current utils is:
A) one. B) less than one. C) greater than one but less than two. D) greater than one but less than three.
The Clayton Act of 1914 prohibits ________ if it substantially lessens competition or creates a monopoly
A) people from serving on the board of directors of competing firms B) contracts that force other goods to be bought from the same firm C) both of the above D) neither of the above
A merger between a shoelace company and a soup company might be undertaken to
a. eliminate a potential competitor b. enhance a supplier-purchaser relationship c. diversify assets and production d. raise the Herfindahl-Hirschman Index in the shoelace industry e. raise the concentration ratio in the soup industry
The Bush tax cuts
a. reduced tax rates for the upper brackets and increased tax rates for lower income taxpayers. b. reduced tax rates for the upper brackets and held constant tax rates for lower income taxpayers. c. reduced tax rates for the upper brackets and decreased tax rates for lower income taxpayers. d. held constant tax rates for the upper brackets and decreased tax rates for lower income taxpayers. e. Increased tax rates for the upper brackets and decreased tax rates for lower income taxpayers.