If the real GDP in 2003 is $12,400 billion and the implicit price deflator is 1.4, what is the value of nominal GDP in 2003?

A single-price monopoly causes a deadweight loss because it ________

A) restricts its output so it is less than the efficient quantity B) increases the amount produced beyond the efficient quantity C) maximizes marginal revenue rather than minimizes marginal cost D) increases marginal cost

Which of the following does NOT describe the intended purpose of the antitrust laws of the United States?

A) to promote competition within the economic system B) to reduce the power of monopolies C) to prohibit certain economic activities that promote trade D) to restrict the formation of monopolies