The Law of Supply ______ holds for price-taking firms.
A. always
B. usually
C. occasionally
D. never
A. always
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Whenever productive resources are used to make capital goods
A) society is not producing efficiently. B) society is giving up current consumption. C) the production possibilities curve becomes flatter. D) absolute advantage occurs.
Government attempts to prohibit monopolization of a market are known as
a. antitrust regulation b. economic regulation c. social regulation d. anticompetitive regulation e. Herfindahl regulation
The declared purpose of antitrust policy is to promote competition, yet some would say it actually may prevent competition. Explain the two sides of the debate
Refer to the information. The equilibrium level of GDP for this economy is:
Answer the question on the basis of the following information for a mixed open economy. The letters Y, C a , I g , X n , G, and T stand for GDP, consumption, gross investment, net exports, government purchases, and net taxes respectively. Figures are in billions of dollars.
A. $600.
B. $530.
C. $415.
D. $400.