What are the key differences in antitrust enforcement in the U.S. and Europe?
A) EU authorities may only impose civil fines
B) It is generally easier to show that a firm is dominant under EU law
C) EU antitrust investigations are conducted more quickly than in the U.S.
D) all of the above
D
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Contractionary monetary policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) higher; higher B) higher; lower C) lower; lower D) lower; higher
The aggregate demand curve
a. represents the relationship between prices and quantities of all goods produced in an economy b. is derived from equilibrium conditions in the labor and money markets c. gives the equilibrium level of real GDP corresponding to a given price level d. is the sum of an economy's individual demand curves e. plots the interest rate as a function of output
"Demand" is a series of quantities demanded, one for each person in the market
a. True b. False Indicate whether the statement is true or false
Economists estimate that decreasing barriers to migration by just 5 percent will:
A. decrease economic welfare of receiving countries by more than 5 percent. B. increase economic welfare by more than lifting restrictions on capital mobility in their entirety. C. decrease economic welfare of the countries that would lose their citizens to richer countries by trillions of dollars. D. increase economic welfare of sending countries by trillions of dollars.