According to the Department of Justice merger guidelines, a proposed merger between two firms may be challenged if the post-merger Herfindahl-Hirschman Index
A) lies between 1,500 and 2,500 and the merger raises the Index by 50 points.
B) lies between 1,500 and 2,500 and the merger raises the Index by more than 100 points.
C) lies above 2,500 and the merger raises the Index by less than 50 points.
D) lies below 1,000 and the merger raises the Index by 100 points.
Answer: B
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Which of the following is NOT an element of a seller's decision-making process in a perfectly competitive market?
A) The relationship between the inputs and outputs B) The cost of the inputs C) The price of the output D) The number of buyers
By selecting a bundle where MRS = MRT, the consumer is
A) achieving a corner solution. B) reaching the highest possible indifference curve she can afford. C) not behaving in an optimal way. D) All of the above.
In the early antebellum period, New England women's wages were about 1/3 of men's wages. By 1860, New England women's wages were
a. about ¼ of men's wages. b. about ½ of men's wages. c. more than men's wages. d. about equal to men's wages.