Under a per se approach to the antitrust laws,
A. the government must prove some anticompetitive outcome from the act.
B. large size alone can be an antitrust violation.
C. the action will pass antitrust scrutiny if it is shown to be reasonable.
D. the only real question is whether the prices charged are reasonable.
Answer: B
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If demand is perfectly inelastic, the absolute value of the price elasticity of demand is
A) more than one. B) less than one. C) zero. D) equal to the absolute value of the slope of the demand curve.
You are given the following information
Savings S = 150 Investment I = 100 Taxes T = 250 Government Purchases G = 500 Compute the level of private savings, public savings, national savings, and net exports.
If the Prisoners' Dilemma is repeated over and over again with the same two players having an indefinite time horizon,
a. the unique equilibrium is to play the Nash equilibrium of Rat each period. b. players can cooperate on Silent if they are not too patient. c. players can cooperate on Silent if they are patient enough. d. players can only cooperate on Silent in the initial stages of the game.
Central banks can increase the money supply by:
a. Buying government securities. b. Selling foreign exchange. c. Raising margin requirements. d. All of the above. e. None of the above.