Business conduct that is illegal per se is illegal
a. only if there is no economic rationale for it
b. only if it results in a monopoly
c. without regard to its economic rationale or consequences
d. only if it is prohibited by the Clayton Act
e. whether or not Congress has passed legislation prohibiting the practice
C
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Suppose some firms in a perfectly competitive market are incurring an economic loss. As a result,
A) all the firms will eventually incur an economic loss. B) some firms will leave the market and the price of the good will rise. C) some firms will leave the market and the remaining firms' quantity will decrease. D) the total market economic profit must equal $0.
The narrowest definition of the money supply is
A) M1. B) M2. C) the difference between M2 and M1. D) the sum of M1 and M2.
The intended investment that producers make in 2003 coupled with the unintended changes in inventories that occur in 2003 are known as
a. total intended investment b. unwanted investment c. unwanted inventories d. production investment e. actual investment
Membership in the Group of Five consists of both developed and developing countries.
Indicate whether the statement is true or false.