If two large firms from different industries merge,
a. industry concentration rises
b. industry concentration falls
c. the total assets of the top 200 firms in the country will stay the same
d. industry concentration rises in one market and falls in the other
e. industry concentration is not affected
E
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If the marginal cost of producing every quantity decreases, all the following occur EXCEPT
A) minimum supply price does not change. B) the marginal social benefit of the last unit bought changes. C) the consumer surplus increases. D) the efficient quantity increases.
A government can impose an import quota or an equivalent tariff that achieves the same impact on trade. What is the key difference in the welfare outcomes of these two policy options?
A) The domestic quantity supplied is larger under the tariff policy. B) The domestic price is higher under the tariff policy. C) The domestic price is lower under the tariff policy. D) The government captures some of the profits from foreign suppliers through the tariff revenue.
If crowding out exists, contractionary fiscal policy will cause the aggregate demand curve to shift in by more than indicated by the government spending multiplier
a. True b. False Indicate whether the statement is true or false
As a result of the action of automatic stabilizers,
A. the government budget changes offset changes in national income. B. the government has had decreasing budget deficits over time. C. taxes and government spending rise when the economy enters a recession. D. taxes and government spending fall when the economy enters a recession.