Antitrust enforcement of vertical relationships is generally focused on
a. The dominant firm using vertical contracts to extend market power to other levels of the supply chain
b. Vertical contracts that reduce the intensity of competition
c. Vertical contracts that harm consumers
d. All of the above
d
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Which of the following countries' economic development began with government encouragement of cartel formation?
a. United States b. Israel c. Brazil d. Germany e. Canada
The _____________ indicates the least costly way of producing each output level when all inputs can be varied.
Fill in the blank(s) with the appropriate word(s).
Economists build economic models by
a. generating data.
b. conducting controlled experiments in a lab.
c. making assumptions.
d. reviewing statistical forecasts.
Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output. Thus:
A. saving is $10 billion. B. unplanned decreases in inventories of $10 billion will occur. C. the MPC is .80. D. unplanned increases in inventories of $10 billion will occur.