Because of the rise of global competition and free trade,
a. antitrust policy serves no purpose
b. antitrust policy may be less necessary than previously thought
c. U.S. industrial concentration poses more of a threat to consumers
d. U.S. markets are becoming less contestable
e. U.S. manufacturers are seeking fewer trade barriers
B
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If the income elasticity of demand for a Miami Dolphins season ticket is 2.34, then are Dolphins season tickets a normal or an inferior good?
What will be an ideal response?
Which of the following is true?
A. A nation cannot have a comparative advantage in the production of every good. B. A nation cannot have an absolute advantage in the production of every good. C. A nation can have a comparative advantage in the production of every good, but not an absolute advantage. D. A nation can have a comparative advantage in the production of a good only if it also has an absolute advantage.
Place point X on the graph to indicate an unemployment rate of 10 percent.
Recessions begin at ________ and end at ________.
A. the highest unemployment rate; the lowest unemployment rate B. a trough; a peak C. a peak; a trough D. the lowest unemployment rate; the highest unemployment rate