In the 1945 Alcoa antitrust case, the Court found ALCOA:
a. not guilty of violating the Sherman Antitrust Act because it was a good monopoly.
b. did not have a good reason for having a large market share, so found it guilty.
c. guilty because its firm size was a per se violation of antitrust laws.
d. not guilty because it did not engage in any illegal or unfair acts.
e. was no threat to industrial democracy.
c
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A budget surplus occurs when ________
A) government spending exceeds tax revenue B) tax revenue exceeds government spending C) imports exceed exports D) exports exceed imports
A government regulation making it very difficult to fire workers will have what effect in the labor market?
a. Demand for workers will decrease. b. The number of people hired will increase. c. There will be no effect on the labor market. d. Companies will fire more people.
Monopsonistic exploitation is
A) measured by the area above the supply curve but below the wage paid. B) the difference between the marginal revenue product of a worker and the wage received by the worker. C) measured by the height of the supply curve of labor. D) the cost to society from unions.
Under which of the following assumptions would the nominal interest rate be equal to the real interest rate?
A) Expected inflation is equal to the nominal interest rate. B) Expected inflation is equal to the real interest rate. C) Expected inflation is negative. D) Expected inflation is equal to zero. E) none of the above