Which of the following is included in the narrow definition of ...

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Which of the following is included in the narrow definition of the money supply?
 a. Cash in bank vaults
 b. Savings deposits
 c. Money market mutual fund accounts
  d. Negotiable certificates of deposit
 e. Checkable deposits

Question 2

The Department of Justice has challenged the merger of two firms, and the case has ended up in the Supreme Court. The two firms argue that they will not use their monopoly power to raise prices or to cut output. Under what judicial standard would their merger be allowed, and under what judicial standard would their merger be disallowed?

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Answer to Question 1

e

Answer to Question 2

The merger would be allowed under the rule of reason, which says that a long as a firm behaves reasonably, its size does not matter. The merger would be disallowed under the per se standard, which says that having a monopoly position is undesirable, no matter how the firm behaves.

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Gracias!

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