Antitrust laws in the United States rely more on economic theory and the rule of reason approach, whereas the European Union relies more on the per se approach

What happens during a bank run?

a. The government orders a bank to close. b. States charter more banks than needed. c. The price of gold suddenly increases. d. More customers withdraw money than the bank has on hand.

Roger spends all of his money on racquetballs and food. What would happen to Roger's budget line if his income increased by 10 percent, holding prices constant?

a. It would shift inward. b. It would rotate about the axis for food. c. It would rotate about the axis for racquetballs. d. Nothing would happen to the budget line, because the relative prices for food and racquetballs have not changed. e. It would shift outward.