The typical workweek of a U.S. worker has fallen over the last century from about:
a. 50 hours per week to less than 40 hours per week.
b. 60 hours per week to less than 40 hours per week.
c. 40 hours per week to less than 30 hours per week.
d. 70 hours per week to less than 60 hours per week.
b
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Which landmark legislation made it illegal to engage in predatory pricing and also prohibited mergers if it led to weakened competition?
a. Sherman Act b. Robinson-Patman Act c. Cellar-Kefauver Act d. Clayton Act
Over time, which of the following will most likely result from a depreciation in the exchange rate of the dollar?
a. Inflation will decline. b. Foreign goods will cost Americans less, and therefore, the imports of Americans will rise. c. U.S. goods exported abroad will cost less in foreign countries, so foreigners will buy more of them. d. U.S. goods exported abroad will cost more in foreign countries, so foreigners will buy fewer of them.
Economists view the fact that Florida grows oranges, Texas pumps oil, and California makes wine as
a. confirmation of the virtues of free trade. b. confirmation of the infant-industry argument. c. confirmation that free trade agreements are not necessary. d. confirmation that specialization in absolute advantage works.
Which of the following statements is an example of confusing association and causation?
A. Senator Jones believes that more tax revenue should be distributed to the poor. B. A map includes roads, but not every restaurant, telephone pole, and C. Interest rates rise when it rains, all other factors constant. D. When the price of Coca-Cola increases, consumers buy more Pepsi, all other factors constant.