The federal budget deficits of the 1980s
A. are about the same as those of earlier decades.
B. caused the government debt to increase in absolute terms but not as a percent of GDP.
C. were due to the persistent recession that occurred throughout the 1980s.
D. were caused by rising expenditures and tax cuts.
D. were caused by rising expenditures and tax cuts.
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What are the two main antitrust laws and when were they enacted?
What will be an ideal response?
A farm is able to produce 10,000 bushels of peanuts per season on 10 acres. Assume it adds one more acre and is able to produce 12,000 bushels per season. The marginal product of the additional acre of land for this farm is:
a. 10,000 bushels per acre per year. b. 1,200 bushels per acre per year. c. 2,000 bushels per acre per year. d. 12,000 bushels per acre per year.
In the Microsoft antitrust case, regulators argued that Microsoft (MS) not only required computer makers that wanted to use MS Windows to also carry their other software, but required them to:
a. choose between various word processing programs. b. remove a competitor’s software. c. use less innovative marketing practices. d. run the Macintosh operating system.
The Federal Reserve makes decisions regarding:
A. fiscal policy only. B. structural policy only. C. monetary and fiscal policy. D. monetary policy only.