Antitrust law is law that
A) does not allow individuals to open trust savings accounts.
B) prohibits competition in certain industries.
C) prohibits certain kinds of market behavior by firms.
D) allows firms under special circumstances to be a monopoly.
C
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A firm will tend to select the least costly input combination to produce its output.
Answer the following statement true (T) or false (F)
A U.S. tourist travels to Italy and spends $900 during the trip. How is this activity recorded in the U.S. current account?
a. Unilateral transfers account is credited for $900. b. Unilateral transfers account is debited for $900. c. Merchandise account is credited for $900. d. Services account is debited for $900. e. Merchandise account is debited for $900.
A decrease in aggregate demand tends to cause a ____ a short run Phillips curve at first, then cause a ____ in the short run Phillips curve as people adjust their expectations. a. Movement up along; upward shift
b. Movement up along; downward shift. c. Movement down along; upward shift. d. Movement down along; downward shift.
How did the original focus of the IMF differ from that of the World Bank?
A. The IMF dealt in North and South America only, and the World Bank dealt with the rest of the world. B. The IMF gave grants to developing countries and the World Bank made loans. C. The IMF assisted wealthy nations and the World Bank assisted developing nations. D. The IMF provided short-term loans and the World Bank provided long-term loans.