One of the reasons fewer antitrust cases have been brought before the courts is:
A. the rate of technological change has accelerated.
B. input prices have fallen significantly.
C. firms have become increasingly larger.
D. the United States is engaged in more trade wars.
Answer: A
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The sale of government securities by the Fed leads to
A) a decrease in bank reserves. B) a contraction in bank lending. C) a decrease in the monetary base. D) All of the above answers are correct.
A liability rule:
A. involves the use of taxes or fees to remedy negative externalities. B. involves the use of subsidies to remedy negative externalities. C. is a legal principle requiring a party who takes an action that harms others to compensate the affected parties for some or all of their losses. D. requires that victims of an externality pay a tax to the producers of the externality.
In the long run, monopolistically competitive firms have:
a. excess capacity. b. positive profits. c. minimal average costs. d. homogeneous production.
Which of the following is shown on the horizontal axis of a Lorenz curve?
a. Cumulative share of population b. Cumulative percentage of total income received c. Cumulative distribution of wages per household d. Cumulative change in income per household