Which of the following is expected to increase aggregate demand in the short run?
A. Deficit budget
B. Surplus budget
C. Zero based budget
D. Balanced budget
Answer: A
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Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly) produce the monopoly quantity of 50,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of ________.
A) $1,000,000 B) $250,000 C) $3,000,000 D) $750,0
Which of the following is the best example of a public good?
a. Cars. b. Education. c. Radios. d. Air traffic control.
If the market share of the largest firm in an industry is 50%, then theoretically, the highest possible Herfindahl-Hirschman Index for this industry would be
A. 2,500. B. 5,000. C. 10,000. D. 25,000.
Mail-order sales of wine are illegal in some states. Some wineries argue that the ability to ship directly to consumers helps small wineries and that shipping bans unfairly protect home-state wineries, raising prices to consumers. Others argue that the bans allow states to collect tax revenues and to keep wine from being sold to minors. Economists looking at this case would say that one effect of the ban is to prevent:
A. reverse engineering. B. competition to existing sellers. C. a winner-takes-all market. D. a network externality.