If the marginal propensity to consume (MPC) is 0.80, and if policy makers wish to increase real GDP $200 billion, then by how much would they have to change taxes?

When the government establishes a minimum price for an agricultural product above the equilibrium price, the government is creating a(n)

A) price ceiling. B) elevated price. C) price floor. D) surplus price.

The "rule of reason" indicated that:

A. if less than four firms account for three-fourths of an industry's sales, the industry is in violation of the Sherman Act. B. social regulation should not be enforced unreasonably so that costs exceed benefits. C. the mere possession of monopoly power is a violation of the antitrust laws. D. only contracts and combinations that unreasonably restrain trade violate the antitrust laws.