The Clayton Act
a. was passed in 1890
b. created the Federal Trade Commission
c. abolished antitrust policy in this country
d. attempted to give explicit content to what formed an antitrust violation
e. made mergers between corporations illegal
D
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According to Keynesian theory, changes in the money supply have a direct and immediate impact on aggregate demand
a. True b. False Indicate whether the statement is true or false
The aggregate expenditures model and the aggregate demand curve can be reconciled because, other things equal, in the aggregate expenditures model:
A. changes in the price level have no effect on the equilibrium level of GDP. B. an increase in the price level increases the real value of wealth. C. the level of aggregate expenditures and therefore the level of real GDP vary inversely with the price level. D. the level of aggregate expenditures and therefore the level of real GDP vary directly with the price level.
In general, pollution exists if
A. there are poorly defined common property rights. B. profit-making activity is taken to an extreme. C. people are unconcerned about the hazards associated with pollution. D. there are poorly defined private property rights.
The full-employment rate of unemployment is also called the:
A. Potential rate of unemployment B. Cyclical rate of unemployment C. Frictional rate of unemployment D. Natural rate of unemployment