The idea that hysteresis plays a role in macroeconomics implies that
a. monetary policy can have an effect on the natural rate of unemployment.
b. workers can overreact to changes in monetary policy.
c. stabilization policy is ineffective and counterproductive.
d. fiscal policy is ineffective and counterproductive.
A
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The U.S. antitrust enforcers will likely block a merger if
A) the merging firms already earn excessive profits. B) the merging firms are in different markets. C) the merger will substantially increase market power. D) the degree of concentration declines as a result of the merger.
In the problem of double marginalization, the resulting price is lower than if
a. The manufacturer were to sell directly to the consumer b. The manufacturer and the retailer were to merge c. All of the above d. None of the above