The purpose of antitrust policy is to:
A. promote competition among firms.
B. increase profits to firms.
C. protect domestic firms from foreign trade.
D. achieve scale economies in production.
Answer: A
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Assume the market basket for the consumer price index has two productsbread and milkwith the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A. 118.
B. 116.
C. 86.
D. 85
Explain how the AD curve can be derived from the IS-MP model
What will be an ideal response?
A nation can accelerate its economic growth by:
a. reducing the number of immigrants allowed into the country. b. adding to its stock of capital. c. printing more money. d. imposing tariffs and quotas on imported goods.
Which of the following statements is true?
a. When long-run average total costs are increasing, the firm enjoys economies of scale. b. Most industries exhibit long-run average costs that are shaped like an upside-down U. c. Constant returns to scale occur when the short-run average-total-cost curve is horizontal. d. When long-run average total costs are increasing, the firm has diseconomies of scale. e. Constant returns to scale are never present in the real world.