Which of the following is included in government purchases?
a. Government purchases of investment goods.
b. Transfer payments
c. Government spending on services.
d. both (a) and (c)
d
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When operating on its PPF, a country can produce 2 tons of butter and 200 cars OR 3 tons of butter and 150 cars. The opportunity cost of 1 ton of butter is ________ cars per ton of butter
A) 300 B) 200 C) 50 D) 0.75
Which of the following would be least likely to lead the Justice Department and the FTC to block a proposed horizontal merger?
A) A finding that the resulting firm might be able to unilaterally affect price and output. B) A finding that the potential for entry into the market by new firms would be adversely affected. C) A finding that the potential for coordination among sellers in the market would be enhanced. D) A finding that resulting cost savings and efficiencies would offset any increase in market power.