Suppose a court rules that the ABC Corporation is in violation of the antitrust laws because it produces 70 percent of the output of its industry. This decision is consistent with the:
A. U.S. Steel case.
B. Alcoa case.
C. behavioralist approach to antitrust.
D. legal cartel theory of regulation.
Answer: B
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An application of behavioral economics is:
A. price inconsistency. B. rational cost-price decision making. C. forgetting the fungibility of money. D. All of these are applications of behavioral economics.
Cashing out capital gains in Virtual Currency System #3 (i.e., turning virtual capital gains into real world currencies) causes the nation's:
a. M2 money multiplier to remain the same. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to rise.
The inflation rate is calculated
a. by determining the change in the price index from the preceding period. b. by adding up the price increases of all goods and services. c. by computing a simple average of the price increases for all goods and services. d. by determining the percentage increase in the price index from the preceding period.
If the Fed conducts open-market purchases, the money supply
a. increases and aggregate demand shifts right. b. increases and aggregate demand shifts left. c. decreases and aggregate demand shifts right. d. decreases and aggregate demand shifts left.