Federal antitrust laws in the United States are intended to
A. promote competition by prohibiting monopolies.
B. create only government-owned organizations.
C. promote income equality.
D. create new monopolies.
Answer: A
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Managers of profit centers earn more when their divisions
a. increase their sales and decrease their costs a. decrease their sales and increase their costs b. increase the costs of the components for which they are responsible c. none
The type of good that is most likely to be subject to market failure is:
A. a public good. B. a private good. C. an uncommon resource. D. a factor of production
Which of the following groups believes that by managing aggregate demand, government can achieve the most acceptable combination of unemployment and inflation?
a. classical school b. monetarists c. neo-Keynesian school d. rational expectations school e. supply-side school
Everything else equal, the more rivals a firm has, the
A. less kinked is its demand curve. B. closer is its equilibrium price to its average variable costs. C. more differentiated is its product from rivals’ products. D. more elastic is its demand curve.