A firm charged with monopolizing a market is less likely to be convicted if:
A. the court accepts a broad definition of the market.
B. the court accepts a narrow definition of the market.
C. it has gained its monopoly through abusive means.
D. it sells its product to other firms, rather than directly to consumers.
Answer: A
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When the price level falls from 135 to 120, the aggregate level of GDP supplied falls from $140 billion to $125 billion. This ________ relationship represents the ________ relationship between GDP and the price level
A) positive; long-run B) negative; short-run C) negative; long-run D) positive; short-run
In economics, "capital" refers to
a. money b. stocks, bonds, and other financial assets c. the seat of government d. machines, buildings, tools, and knowledge e. net worth (assets minus liabilities)