U.S. antitrust laws view monopolies as undesirable because
A) monopolies restrain trade and promote inefficiencies.
B) monopolies create inferior products.
C) monopolies produce only capital goods.
D) monopolies produce only cheap, low quality goods.
Answer: A
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Suppose the economy has a recessionary gap. By using an expansionary monetary policy, the Fed can
A) raise real GDP without increasing the price level. B) raise real GDP and the price level. C) raise real GDP and decrease the price level. D) raise the price level alone, but cannot increase real GDP.
To reduce structural unemployment, a nation should focus on:
a. Changing the exchange rate so more can be exported and less imported. b. Improving educational opportunities and job training c. Increasing government spending for the military. d. Cutting income taxes. e. All the above.