In markets where restrictions on advertising have been used to curtail competition, the U.S. courts have generally
a. referred the matters of advertising restrictions to executive regulators.
b. enforced industry-wide agreements to restrict advertising.
c. been silent on the effect of explicit advertising restrictions.
d. overturned laws that prohibit advertising.
d
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
In the textbook model of endogenous growth, long-run output growth would increase if there were either a ________ in the saving rate or a ________ in the depreciation rate
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
The most important responsibility of the Fed is to
A) clear checks. B) supervise member banks. C) serve as fiscal agent for the U.S. Treasury. D) control the money supply.
The rule of reason originated in the __________________ case of 1920.
Fill in the blank(s) with the appropriate word(s).