Antitrust laws allow the U.S. government to do all of the following except _____.
(A) Stop firms from selling new products.
(B) Watch and regulate industry.
(C) Break up existing monopolies.
(D) Stop firms from forming monopolies.
Ans: (A) Stop firms from selling new products.
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Generally speaking, resources are used more wastefully and carelessly when
A) users obtain the resources through the market process. B) users do not have to pay the opportunity cost for using resources. C) users use resources to only advance the projects they are interested in. D) users privately own resources.
Proponents of the new classical macroeconomics do not believe which of the following?
A) Wages and prices will adjust rapidly in the economy. B) Workers and firms use information contained in Fed policy to form inflation expectations. C) The economy will normally be at its potential level. D) Expansionary monetary policy can be an effective policy tool.
If economic costs outweigh benefits from joining a currency union, a nation may still choose to join because of:
A) political pressure from the large nations. B) large political benefits. C) the fear of floating. D) the ability to limit imports.
Consider the following data for a firm over a period of time. The contribution of the firm to domestic output by the value-added method is:
A.
$5,000
B.
$40,000
C.
$45,000
D.
$50,000