To obtain GDP from a national income base,
a. add indirect business taxes and Social Security taxes
b. add capital depreciation and Social Security taxes
c. add indirect business taxes and personal taxes
d. subtract indirect business taxes and capital depreciation
e. add indirect business taxes and capital depreciation
E
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In 1997 the Federal Trade Commission was granted a preliminary injunction on a proposed merger between Staples and Office Depot
The FTC was able to convince the federal district court that allowing the merger would create the potential for anticompetitive prices since it would give the newly merged company a 75% market share and would only leave Office Max as the remaining office supply superstore. Critically evaluate the FTC's use of "office supply superstores" as the relevant market.
Which of the following is a New Keynesian explanation of wage and price stickiness must be discounted?
A) overlapping wage contracts B) menu costs C) efficiency wages D) all of the above