Refer to Figure 4-8. What is the value of the portion of producer surplus transferred to consumers as a result of the rent ceiling?
A) $40,000 B) $100,000 C) $125,000 D) $140,000
B
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Before they can be used in regular exchanges, the assets that make up M2 must often
A) be paid off if they are credit cards. B) be converted to M1 assets. C) have their interest computed. D) have reached term if they are insurance policies.
As output increases
A) the difference between average total cost and average variable cost decreases. B) marginal cost increases continuously. C) average variable cost becomes smaller and smaller. D) the difference between average total cost and average variable cost becomes greater and greater.
The Celler-Kefauver Act strengthened the nation's antitrust approach to merger enforcement by:
a. making all mergers illegal. b. making all conglomerate mergers illegal. c. creating the Federal Trade Commission. d. providing HHI guidelines the government could use to clarify antitrust enforcement. e. amending the Clayton Act to include the purchase of assets with cash of another company as a potential antitrust violation.
One uniquely American aspect of central banking is that: a. the United States has 12 central banks rather than one
b. the Federal Reserve is a private institution with no governmental supervision. c. the dual banking system created two parallel central banks. d. the U.S. Treasury runs the Federal Reserve as an extension of the Executive Branch.