U.S. antitrust policy is focused primarily on market conduct
a. True
b. False
B
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Suppose a Cournot oligopoly is operating in a market where demand is linear and marginal costs are constant. We can conclude that the total output supplied is
a. 1/3 of the perfectly competitive output. b. 1/2 of the perfectly competitive output. c. 2/3 of the perfectly competitive output. d. equal to the competitive output.
Empirical evidence indicates that higher real interest rates lead to ________ in savings.
A. modest decreases B. no change in C. substantial increases D. modest increases
The construction of the economy's marginal social benefit curve for a public good reflects the fact that
A) all the individuals can consume the same unit of the good. B) more than one supplier can provide the good. C) the same unit of the good cannot be simultaneously shared by more than one person at a time. D) the government can supply a public good at a lower cost than can a private supplier.
For most macroeconomists
A) gross national income and gross national product are the same. B) gross national income exceeds gross national product. C) gross national product exceeds gross national product. D) it is hard to tell whether gross national income equal gross national product. E) gross national product is much more important than gross national income.