Which of the following defines monopoly?
A) Sherman Act
B) Clayton Act
C) Federal Trade Commission Act
D) none of the above
D
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Comparing the effect on the monetary base between an open market purchase of government securities from a bank and the same open market operation conducted with the general public, the monetary base
A) decreases by the same amount if the general public sells the securities or if a bank sells the securities. B) does not change if it is the general public that sells the securities. C) increases by a larger amount if a bank sells the securities than if the general public sells the securities. D) increases by a larger amount if the general public sells the securities than if a bank sells the securities. E) increases by the same amount if the general public sells the securities or if a bank sells the securities.
A mugger steals $25 from John Doe. What can an economist conclude?
A) Nobody gained in the "exchange." B) Both parties gained in the "exchange." C) Only the mugger's wealth has increased. D) Nothing, because economists study strictly voluntary exchanges.
Which of the following officially ended the cooperation between the Treasury and the Fed that had taken place during World War 2?
A) Truman doctrine B) Federal Reserve Act of 1951 C) Dodd-Frank Act D) Treasury-Federal Reserve Accord
Which of the following is an example of a cartel?
a. Advanced Micro Devices b. AREVA c. Organization of the Petroleum Exporting Countries d. Combat Observation Laser Teams e. Lloyds Banking Group