What is the Antitrust Division of the Department of Justice?
What will be an ideal response?
The Antitrust Division of the Justice Department is one of two federal agencies empowered to act against those in violation of antitrust laws. It initiates action against those who violate antitrust laws and decides which cases to prosecute and against whom to bring criminal charges.
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What is cost-benefit analysis? Describe the process of cost-benefit analysis
What will be an ideal response?
If it costs View Your World, a high-end window manufacturer, $20 per window to install a higher quality glass in its windows and consumers will pay an additional $28 per window for the improvement, which of the following is true?
A) View Your World should install the higher quality glass because the marginal revenue from the quality enhancement is less than the marginal cost. B) View Your World should not install the higher quality glass because the marginal revenue from the quality enhancement is less than the marginal cost. C) View Your World should not install the higher quality glass because the marginal revenue from the quality enhancement exceeds the marginal cost. D) View Your World should install the higher quality glass because the marginal revenue from the quality enhancement exceeds the marginal cost.
Any market that we are studying and the markets for the related inputs must all be in equilibrium at the same time. This leads to:
A. simultaneous equilibrium effects. B. partial equilibrium effects. C. general equilibrium effects. D. equilibrium-induced changes.
Answer the following statement(s) true (T) or false (F)
1.Economists who believe that, in the short run, discretionary monetary and fiscal policy can stimulate a recessionary economy with aggregate demand management are known as activists. 2.Expansionary fiscal policy is usually effective at correcting for negative supply shocks. 3.Between 1999 and 2004, inflation was low but housing prices were increasing very rapidly. 4.The use of payment contracts that automatically adjust for changes in inflation is known as indexing. 5.Indexing is an effective method for preventing rises in the inflation rate.