Price discrimination that substantially lessens competition is prohibited by the Clayton Act
a. True
b. False
Indicate whether the statement is true or false
True
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When the domestic currency strengthens under a fixed exchange-rate system, this is called
A) a depreciation. B) an appreciation. C) a devaluation. D) a revaluation.
An economy can produce various combinations of food and shelter along a production possibilities curve (PPC). Suppose a technological innovation resulted in a new, higher-yielding crop that generated more bushels of grain for a given set of land, labor, and capital resources. If this innovation did not affect the productivity of shelter production, then which of the following would be true?
a. The production possibilities curve (PPC) will shift outward equally along both axes of the graph. b. The PPC will not change. c. The PPC will rotate outward along the food axis, but will not shift on the shelter axis. d. The PPC will rotate inward along the food axis, but will not shift on the shelter axis.
Because firms are willing to hire additional workers at lower wages, the market labor demand curve is
A. Upward-sloping. B. Downward-sloping. C. Vertical. D. Perfectly elastic.
In a certain economy, the components of aggregate spending are given by: C = 500 + 0.75(Y - T) - 500rI = 300 - 500rG = 400NX = 30T = 40Given the information about the economy above, what would be the impact on aggregate expenditures of a one-percentage-point increase in the real interest rate (r)?
A. Aggregate expenditures would increase by 500 units. B. Aggregate expenditures would decrease by 10 units. C. Aggregate expenditures would decrease by 5 units. D. Aggregate expenditures would decrease by 1,000 units.