Which of the following does NOT describe the intended purpose of the antitrust laws of the United States?
A) to promote competition within the economic system
B) to reduce the power of monopolies
C) to prohibit certain economic activities that promote trade
D) to restrict the formation of monopolies
C
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The members of Federal Reserve district bank boards of directors who are leaders in industry, commerce, and agriculture are known as
A) Class A directors. B) Class B directors. C) Class C directors. D) Class D directors.
Which of the following characteristics of a PPF indicates that tradeoffs must be made?
a. the downward slope b. the upward slope c. the constant slope d. the curvature
Which of the following factors would be most likely to encourage capital formation in a less-developed nation?
a. high and variable rates of inflation b. tariffs and quotas that restrict international trade c. a legal system that provides for secure property rights and even-handed enforcement of contracts d. high marginal tax rates
Which formula can be used for approximating the real interest rate when the inflation rate is low?
a. Nominal Interest Rate + Expected Inflation. b. Nominal Interest Rate + Expected Deflation. c. Nominal Interest Rate – Expected Inflation. d. None of the above is suitable.