Which of the following groups or entities has the authority to initiate legal suits to enforce antitrust laws?
a. the U.S. Justice Department
b. private citizens
c. corporations
d. All of the above are correct.
d
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In the presence of asymmetric information,
A) all contracts are efficient. B) efficiency in risk bearing cannot be achieved. C) a trade-off exists between risk-bearing efficiency and production efficiency. D) no contracting will take place.
Monetarists believe that
a. velocity is independent of the money supply b. the transactions demand for money influences the velocity of money c. the economy does not always operate at full employment d. velocity is constant if the money supply is constant e. velocity varies directly with the money supply
Figure 11-7
The firm shown in Figure 11-7 is an unregulated monopolist; it totals equals _____ .
A. $300 B. $600 C. $400 D. $625
Private goods are characterized by two important attributes. What are they?
a. marginality and depletability b. scalability and desirability c. repeatability and reliability d. depletability and excludability