Which of the following gave the Federal Trade Commission and the U.S. Justice Department the responsibility to enforce antitrust laws?

Which of the following statements identifies a difference between optimization in levels and optimization in differences?

A) Optimization in levels compares only the costs of different alternatives, whereas optimization in differences compares only the benefits of different alternatives. B) Optimization in levels compares only the benefits from different alternatives, whereas optimization in differences compares only the costs of different alternatives. C) Optimization in levels calculates the net benefits of different alternatives, whereas optimization in differences calculates the change in net benefits when switching from one alternative to another. D) Optimization in levels calculates the change in net benefits when switching from one alternative to another, whereas optimization in differences calculates the net benefits of different alternatives.

Following the lifting of price controls that had been implemented in the early 1970s, inflation skyrocketed. Economists' explanations for this acceleration in the price level include:

a. the increase in the money supply that also occurred during the early 1970s. b. increases in the federal government deficit, especially in 1971 and 1972. c. supply-side shocks in oil and food. d. the release of inflationary pressures that built up during the period of price controls. e. All of the above.