If the marginal social benefit of consuming a good or a service exceeds the marginal private benefit
A) a positive externality exists.
B) a negative externality exists.
C) the sum of consumer surplus and producer surplus is maximized.
D) the market achieves economic efficiency.
A
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Which of the following is often called the "Antimerger Act"?
a. Clayton Act. b. Robinson-Patman Act. c. Sherman Antitrust Act. d. Federal Trade Commission Act. e. Celler-Kefauver Act.
In recent years, the Federal Reserve has:
A. paid closer attention to M1 than M2 in setting monetary targets. B. relied more on changes in the discount rate than open-market operations in establishing monetary policy. C. has increased M2 at a fixed annual rate, regardless of the health of the economy. D. taken an activist, pragmatic approach to monetary policy, paying close attention to interest rates.