Firms in a monopolistically competitive market follow the same MR = MC profit maximization rule used by firms in other market structures
a. True
b. False
A
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Reparations for slavery in the United States would
A) be consistent with the Pareto principle. B) be inconsistent with the Pareto principle. C) have nothing to do with the Pareto principle. D) be unconstitutional.
A recessionary gap exists when potential GDP
a. falls short of equilibrium GDP. b. exceeds equilibrium GDP. c. equals equilibrium GDP. d. All of the above are correct.
An example of a good that is excludable is:
A. a park. B. a river. C. a boat. D. clean air.
The U.S. Congress has given two government entities the authority to police mergers. These two entities are
A) the antitrust division of the Department of State and the Securities and Exchange Commission. B) the Federal Trade Commission and the Internal Revenue Service. C) the Antitrust Division of the U.S. Department of Justice and the Council of Economic Advisors. D) the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice.