Because of the rise of global competition and free trade,
a. antitrust policy serves no purpose
b. antitrust policy may be less necessary than previously thought
c. U.S. industrial concentration poses more of a threat to consumers
d. U.S. markets are becoming less contestable
e. U.S. manufacturers are seeking fewer trade barriers
B
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If good weather conditions result in a larger than normal crop of peaches, then the
A) equilibrium price of peaches rises, and the equilibrium quantity of peaches increases. B) equilibrium price of peaches falls, and the equilibrium quantity of peaches increases. C) demand curve for peaches shifts leftward. D) increase in the supply of peaches induces a greater demand for peaches, so that the equilibrium price rises and the equilibrium quantity increases. E) equilibrium price of peaches falls, and the equilibrium quantity of peaches decreases.
Assume that the federal government wishes to counteract inflation with a policy that has the smallest impact on the federal budget. Which of the following would you recommend?
a. Increase transfer payments. b. Increase government purchases. c. Decrease government purchases. d. Decrease transfer payments. e. Increase personal income taxes.