The Supreme Court has defined the offense of monopolization to
A. be when only one firm exists in an industry.
B. be unfair acts in the practice of commerce.
C. include the possession of monopoly power and the willful maintenance of that power.
D. occur when asymmetric information exists.
Answer: C
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For a nonrenewable natural resource, such as oil, the equilibrium price ________ the market fundamentals price
A) is always the same as B) can be greater than but not less than C) can be less than but not greater than D) can be less than, greater than, or equal to
Everything else held constant, in the market for reserves, when the federal funds rate is 5%, lowering the discount rate from 5% to 4%
A) lowers the federal funds rate. B) raises the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect on the federal funds rate.
The old classical macroeconomic was based on an assumption of price and wage ________, and thus an economy that ________
A) flexibility, promptly self-corrected B) flexibility, failed to self-correct promptly C) stickiness, promptly self-corrected D) stickiness, failed to self-correct promptly
The Economic Freedom of the World measure indicates that the United States
a. was the freest economy in the world in 2010. b. has experienced a decline in economic freedom since 2000. c. has experienced an increase in economic freedom since 2000. d. continues to be substantially more free than Australia, Canada, and Chile.