The Department of Justice generally
a. is not involved in merger policy.
b. opposes horizontal mergers but permits conglomerate mergers.
c. opposes only mergers that might reduce competition.
d. opposes mergers whose apparent motive is obtaining economies of scale.
c
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If the Fed lowers the federal funds rate, eventually the
A) AS curve shifts rightward, decreasing real GDP and raising the price level. B) AS curve shifts leftward, decreasing real GDP and raising the price level. C) AD curve shifts leftward, decreasing real GDP and raising the price level. D) AD curve shifts leftward, decreasing real GDP and lowering the price level. E) AD curve shifts rightward, increasing real GDP and raising the price level.
In the simple Keynesian expenditure model, a marginal propensity to consume of .9 leads to an expenditure multiplier of
A) .1. B) .9. C) 9. D) 10.
Accounting costs represent
A. explicit costs paid by the firm. B. both sunk and future costs. C. long run costs only. D. opportunity costs.
Answer the following statements true (T) or false (F)
1) Cost-push inflation increases real output and employment. 2) Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output. 3) Economists who are willing to accept mild inflation consider it to be a necessary by-product of high and growing spending that produces high levels of output, full employment, and economic growth. 4) Demand-pull inflation is usually accompanied by low unemployment and higher real output.