The Clayton Act was
A. repealed by the next Congress.
B. vetoed by President Wilson.
C. declared unconstitutional by the United States Supreme Court.
D. eviscerated by President George W. Bush.
Answer: C
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In the short-run, if the Federal Reserve increases interest rates, then consumption and investment ________, planned aggregate expenditure ________, and short-run equilibrium output ________.
A. increase; decreases; decreases B. decrease; decreases; decreases C. increase; increases; increases D. increase; increases; decreases
In Figure 23.1, for a good with no externality, which area represents the net benefit to society of this market? 
A. BP*C B. ABC C. 0ACQ* D. 0P*CQ*
In the income-expenditure model, firms stand ready to provide all the output that is demanded
Indicate whether the statement is true or false
Fill in the blank: Firms under perfect competition would enjoy ________ market power
A) absolutely no B) some C) much D) total