Once active discrimination ends, it:
A. no longer affects people or markets.
B. is quickly forgotten, and efficiency is reached.
C. can have long-lasting effects on people and markets.
D. None of these is true.
C. can have long-lasting effects on people and markets.
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Which of the following anti-inflation policies imposes costs on society?
A) price controls B) indexation C) reduced growth in nominal demand D) all of these
Answer the following statements true (T) or false (F)
1) Managers of the dairy farmers association can eliminate the industrywide free-rider problem using the law that makes checkoff payments mandatory. 2) In regard to industrywide advertising, creating small groups of participating firms increases the opportunity for free-riding. 3) Resale price maintenance is only profitable if consumers' valuation of the product-specific service exceeds the retailer's marginal cost of providing it. 4) As a manager, if you are aware that your competitors are bribing officials, your firm does not face negative legal outcomes if you report the bribery. 5) As a manager of a firm operating a foreign market, the FCPA does not allow you to make small facilitating payments, but the U.K. Bribery Act does.
Figure 11-1
In Figure 11-1, the economy is experiencing a(n)
a.
inflationary gap equal to EF.
b.
inflationary gap equal to ET.
c.
recessionary gap equal to ET.
d.
recessionary gap equal to FT.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.