Which of the following is concerned with social regulation?
A) Federal Reserve Board
B) Sherman Commission
C) Food and Drug Administration
D) Board of Education
C
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Whenever the opportunity costs of goods are significantly different in different countries, there are gains from specialization and trade
a. True b. False
The government used the Herfindahl-Hirschman index to determine if a proposed merger will lead to excessive concentration
a. True b. False Indicate whether the statement is true or false
The economy can be in equilibrium and in a recessionary gap simultaneously
Indicate whether the statement is true or false
When negative externalities exist, the private market equilibrium represents a
A) market price which is too low and a market quantity which is too low. B) market price which is too low and a market quantity which is too high. C) market price which is too high and a market quantity which is too low. D) market price which is too high and a market quantity which is too high.