A monopolistically competitive firm has a
A. highly elastic demand curve.
B. highly inelastic demand curve.
C. perfectly elastic demand curve.
D. perfectly inelastic demand curve.
Answer: A
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American union membership as a percentage of the total nonfarm labor force reached its peak in
a. 1900 b. 1910 c. 1920 d. 1930
One of the remedies that has been used in the case of antitrust violations is the award of treble damages to the party that has been harmed
a. True b. False
If a price floor is not binding, then a. the equilibrium price is above the price floor. b. the equilibrium price is below the price floor. c. there will be a surplus in the market
d. Both (a) and (c) are correct.
Usury laws:
A. allocate funds from low-productivity to high-productivity investments. B. establish a legal ceiling on interest rates. C. make more funds available to low-income borrowers. D. create a surplus of loanable funds.