In 1911, the U.S. government sued Standard Oil, a U.S. company, for violation of antitrust laws. The company broke up into 34 smaller companies. This is an example of
a. promoting competition
b. reducing trade barriers.
c. regulating currency markets.
d. government failure.
a. promoting competition
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Which of the following would cause a movement up (or leftward) along the demand curve for European autos in the United States?
A. An increase in the price of American autos B. A decrease in the price of American autos C. An increase in income in the United States D. An increase in the price of European cars
Which of the following is true about an increase of a per-unit tax in a goods market where the good is quasilinear assuming neither supply nor demand is perfectly inelastic:
A. The more price elastic either demand or supply, the lower will be tax revenue. B. The more price elastic either demand or supply, the greater will be deadweight loss. C. The higher the tax rate, the greater the fraction of deadweight loss over revenue. D. Both (a) and (b) E. Both (b) and (c) F. Both (a) and (c) G. All of the above H. None of the above
Refer to the accompanying figure. A decrease in supply is represented by a shift from:
A. curve C to curve D. B. curve A to curve B. C. curve D to curve C. D. curve B to curve A.
If consumers spend 75 cents out of every extra dollar received, the:
A. MPS is 0.75. B. MPC is 0.25. C. Multiplier is 4. D. Multiplier is 7.5.