Assume that full-employment national income is Y = $1,200 billion, the current equilibrium national income is Y = $800 billion, and the MPC is 0.5 . What level of aggregate expenditure will close the recessionary gap?

For a good with an external cost, the supply curve

A) represents the various quantities people can buy. B) is the same as the marginal private cost curve. C) is the same as the marginal social cost curve. D) is the same as the marginal external cost curve.

If Sony required all its retailers not to sell televisions from other companies, Sony would be engaging in what kind of activity? Is Sony's requirement legal or does it violate the Clayton Act?

What will be an ideal response?