When looking at data for unemployment and inflation from the 1970s there is evidence to support the short run Phillips Curve.
Answer the following statement true (T) or false (F)
False
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One school of anti-trust thought argues that, rather than ensuring efficiency, anti-trust laws are really aimed at
A) protecting small independent firms against large corporations. B) outlawing all monopolies whether they perform "bad acts" or not. C) price differentiation due to differences in quality and cost. D) restricting interlocking directorates.
Which of the following is NOT true about a tariff?
A) It is a barrier to entry in a market. B) It leads to a natural monopoly. C) It is a tax. D) It affects imported goods.
In general, more efficient taxes have:
A. lower administrative burdens. B. more complexity. C. lower revenues given the size of the tax. D. All of these statements are true.
In Figure 17.6, long-run economic growth implies a
A. Shift from AD1 to AD2. B. Move from point D to point C. C. Move from point A to point B. D. Shift from LRAS1 to LRAS2.