Monetarists take the policy position that the supply of money should be
A. increased at a constant rate each year.
B. decreased during recession and increased during inflation.
C. held constant over time.
D. increased during recession and decreased during inflation.
A. increased at a constant rate each year.
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Although U.S. Steel controlled nearly 75 percent of the domestic iron and steel industry, in 1920 the Supreme Court ruled that the firm was not in violation of the Sherman Antitrust Act because there was no evidence of abusive behavior. What antitrust doctrine was the court applying in this case?
a. The rule of reason. b. The per se rule. c. The marginal cost pricing rule. d. The natural monopoly rule.
Refer to the data. The profit-maximizing output for this firm:
A. is 3.
B. is 4.
C. is 5.
D. cannot be determined from the information given.