Enforcement of antitrust laws is the responsibility of
a. only the Department of Justice
b. only the Federal Trade Commission
c. only the Antitrust Division
d. both the Justice Department and the Federal Trade Commission
e. the President
D
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If fast food is an inferior good then:
A. the demand for fast food will fall as income rises. B. the demand for fast food will fall as income falls. C. the quantity of fast food demanded will rise as the price of fast food rises. D. the demand for fast food will fall as the price of fast food rises.
The assumptions underlying the simple linear regression model are:
a. the value of the dependent variable Y is postulated to be a random variable b. a theoretical straight-line relationship exists between X and the expected value of Y c. associated with each value of X is a probability distribution d. the disturbance term is assumed to be an independent random variable e. a through c f. b through d
Trade can only benefit a nation if that nation has an absolute advantage in the production of that good
a. True b. False Indicate whether the statement is true or false
Autonomous expenditure is the portion of planned aggregate expenditure that:
A. equals induced expenditure. B. is independent of output. C. equals aggregate output. D. equals planned spending.