What is the main reason for anti-trust laws?
a. To keep prices low
b. To ensure firms do not become too big
c. To ensure active competition
d. To prevent mergers
c. To ensure active competition
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A firm currently has 5 workers each paid $15 per hour. If it decides to hire a 6th worker, the hourly wage increases to $18 for all workers. The 6th worker is expected to contribute to around $40 worth of output. Based on this information, the firm should
a. Hire the 6th worker since MR>MC
b. Not hire the 6th worker since MR>MC
c. Not hire the workers since MR
Which of the following equations is correct?
A) Saving = Disposable income + Consumption B) Saving = Disposable income x Consumption C) Disposable income = Consumption - Saving D) Saving = Disposable income - Consumption
The expected future money supply does not have an effect on:
A. expected future inflation. B. the current price level. C. the current nominal money supply. D. the future price level.
Which of the following statements about pollution or pollution control is TRUE?
A. The optimum amount of pollution abatement is where the total benefits of pollution abatement equal the total costs of pollution abatement. B. Private costs of pollution usually exceed social costs. C. A tax to reduce pollution levels should be based on the economic damages rather than on the absolute amount of pollution. D. A nationwide uniform tax on emissions is the appropriate way to reduce pollution levels.