One of the administrative bodies responsible for initiating actions on behalf of the U.S. government against individuals or companies violating antitrust laws is the
A. Federal Utility Commission.
B. Interstate Commerce Commission.
C. Federal Reserve Bank.
D. Antitrust Division of the Justice Department.
Answer: D
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What are the likely effects of a U.S. antidumping duty on imported steel?
a. The U.S. terms of trade will improve and U.S. steel imports will rise. b. The U.S. terms of trade will worsen and U.S. steel imports will rise. c. The foreign price of steel will rise and the United States will avoid deadweight losses. d. The U.S. price of steel will rise and the United States will suffer deadweight losses.
The optimal amount of pollution abatement is such that
A) the total benefit of reducing pollution is equal to the total cost of reducing pollution. B) the marginal private cost of reducing pollution is just equal to the profit of the polluting firms. C) there is no remaining pollution. D) the marginal social cost of reducing pollution is just equal to the marginal social benefits from doing so. E) none of the above; there is no optimal amount of pollution abatement.