The biggest weapon of the Federal Trade Commission (FTC) is the "threat" of antitrust action, not action itself
Indicate whether the statement is true or false
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Refer to the market diagram. Of the surplus that the consumers lose because there is a monopoly (and not perfect competition), how much has become deadweight loss?
The following questions refer to the accompanying market diagram. PC and QC are the equilibrium price and quantity if the firm behaves competitively, and PM and QM are the equilibrium price and quantity if the firm is a simple monopoly.
a. Area E
b. Area H
c. Area E + H
d. Area C + D + H
A firm that produces and sells furniture gets to choose
a. how many workers to hire in both the short run and the long run. b. the size of its factories in the short run but not in the long run. c. which short-run average-total-cost curve to use in both the short tun and the long run. d. All of the above are correct.
If the central bank in a foreign country increases its interest rate, then the IS curve of the domestic economy will:
A) shift to the right. B) shift to the left. C) not shift at all. D) shift to the right because U.S. exports will decrease.
The statement, "Violent crime has decreased in the last five years," is:
A. obviously wrong and, therefore, cannot be a positive statement. B. normative since it can be answered by simply looking at the facts. C. positive because it is testable. D. not very interesting because all normative issues are of little importance.