The city in which a new casino is likely to have the smallest economic impact would be
A. Kansas City (where two already exist).
B. St. Louis (where three already exist).
C. Denton, TX (north of Dallas, where no casinos already exist).
D. Las Vegas (where many already exist).
Answer: D
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Which of the following was an implication of the U.S. government's Clean Air Act Amendments (CAAA) of 1977?
A) It acted as a barrier to entry. B) It increased consumer surplus. C) It reduced the profits of existing firms. D) It reduced the market power of existing firms.
Economic growth can be pictured in a production possibilities frontier diagram by
A) making the production possibilities frontier more bowed out. B) making the production possibilities frontier less bowed out. C) shifting the production possibilities frontier outward. D) shifting the production possibilities frontier inward.
Which of the following practices is prohibited by the Clayton Act?
a. Price discrimination that substantially lessens competition. b. Tying contracts that substantially lessen competition. c. Exclusive dealing that substantially lessens competition. d. All of these.
The amount the government budget deficit would be if the economy were at full employment is known as the
A. natural deficit. B. full-employment deficit. C. primary deficit. D. current deficit.