The uncertainty and ambivalence surrounding government policies toward competition stems from
A) conflict between the goals of preserving competition and protecting competitors.
B) the influence producers are able to exert on agencies charged with enforcing laws governing business practices.
C) uncertainty about the actual effects of various measures intended to promote competition.
D) all of the above.
E) none of the above but from uncertainty about federal, state, or local jurisdiction.
D
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Which of the following is an example of a negative externality?
A. Bad weather reduces the size of the wheat crop. B. A reduction in the size of the wheat crop causes the income of wheat farmers to fall. C. Smoking harms the health of nonsmokers who are nearby. D. Smoking harms the health of the smoker. E. all of the above
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.