The level toward which the economy is moving and where it will stay unless spending patterns of the economy will change is called the equilibrium level of output and income
Indicate whether the statement is true or false
TRUE
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Necessities such as food and shelter have inelastic demand.
Answer the following statement true (T) or false (F)
Under a per se approach to the antitrust laws,
a. the government must prove some anticompetitive outcome from the act b. large size alone can be an antitrust violation c. the action will pass antitrust scrutiny if it is shown to be reasonable d. the only real question is whether the prices charged are reasonable e. the courts have ruled antitrust laws unconstitutional
In addition to investment in physical and human capital, what other public policies might a country adopt to increase productivity?
The United States is considered by the Institute for Management Development to be the most competitive economy because
A. of selected restrictions on imports from Japan and Europe. B. of widespread entrepreneurship. C. of a high saving rate. D. U.S. residents are willing to work harder than anyone else is.