Two government organizations that are responsible for initiating actions against possible antitrust cases are:
A. the Department of Justice and the Department of Commerce.
B. the Department of Commerce and the Federal Reserve.
C. the Department of Justice and the Federal Trade Commission.
D. the Department of Labor and the Department of Commerce.
Answer: C
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Credit-driven bubbles ________
A) occur exclusively within the financial sector B) are more likely to be identified by central bank officials than by market participants C) are best contained with a policy of high real interest rates D) are harder to identify than expectations-driven bubbles
The "crowding out" effect refers to the:
A. increase in domestic investment by foreigners, leaving little investment choice for domestic investors. B. reduction in the interest rate caused by governments running a deficit. C. reduction in domestic investment caused by governments running a deficit. D. irrational exuberance of the market reducing the number of rational investments available.
Suppose some firms exit a monopolistic competition industry. We would expect the demand curve of a firm already in the industry to:
A. become more elastic. B. remain the same since entering firms serve other customers in the market. C. shift to the right. D. shift to the left.
If people act as if they systematically pursue their own self-interest, then they will most likely
A) respond irrationally to any incentive. B) respond to a given incentive in a random manner. C) respond predictably to a given incentive. D) not respond to any incentive.