Antitrust enforcement focuses on market structure, while government regulation deals with all of the following except
A. Output.
B. Perfect competition.
C. Profits.
D. Prices.
Answer: B
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Which of the following is a factor of production that generally is fixed in the short run?
A) a factory building B) water C) raw materials D) labor
Refer to Figure 12.4. The implementation of corrective policy by the central bank is designed to move the economy from
A) point A to point B. B) point B to point D. C) point D to point C. D) point C to point A.
The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 represents the world supply curve. If a $1 tariff is imposed on imported rice, the loss in social welfare is
A) b + c + d + e. B) a. C) i. D) a + c + d + e.
Which of the following is the most liquid?
A) certificate of deposit B) cash C) checkable and debitable account D) stocks and bonds