The Department of Justice generally
A. is not involved in merger policy.
B. opposes horizontal mergers but permits conglomerate mergers.
C. opposes only mergers that might reduce competition.
D. opposes mergers whose apparent motive is obtaining economies of scale.
Answer: C
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What is the major cost of slowing down an ongoing inflation?
a. Output must rise above potential. b. The Fed must sell bonds at lower prices than those at which the bonds were purchased. c. Output must fall below potential. d. The Fed must purchase bonds from the public. e. The Fed must lend additional money to member banks at below-market interest rates.
Which of the following is true of utility? a. The marginal utility obtained from the consumption of a unit of a good increase with each additional unit of the good. b. Utility is a measure of a person's level of satisfaction from consuming a particular good
c. The utility from the consumption of a good increase as the price of the good increases. d. Utility is an objective concept.
A movie theater is a price-discriminating monopolist and charges a higher ticket price for late-evening showings. From this we know that:
A. late-evening moviegoers have less elastic demands than daytime or early-evening moviegoers. B. late-evening moviegoers have perfectly inelastic demand schedules. C. late-evening moviegoers have more elastic demands than daytime or early-evening moviegoers. D. daytime and early-evening moviegoers have perfectly elastic demands.
The law of diminishing marginal product shows the relationship
A) between accounting and economic profits. B) between short-run and long-run outputs of a firm. C) between inputs and outputs for a firm in the short run. D) between inputs and outputs for a firm in the long run.