The relatively small export-import sector in the United States began to grow significantly
A. after 1900.
B. in the 1920s.
C. in the 1950s.
D. in the 1970s.
D. in the 1970s.
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Which of the following statements is true?
a. Marginal revenue product is the extra revenue generated to the firm from the production of one more unit of output. b. Marginal factor cost is the extra cost to a firm of employing one more unit of a factor of production. c. The demand curve for a perfectly competitive employer is horizontal at the market wage rate. d. The supply curve of labor is upward sloping because of the law of diminishing marginal productivity.
What is the difference between socialism and communism? What are some examples of countries that are largely socialistic and some that are communistic?
The antitrust legislation that made it illegal for a firm to buy a competitor's patents, plant, and equipment was the
a. Sherman Antitrust Act b. Cellar-Kefauver Act c. Robinson-Patman Act d. Clayton Act e. FTC Act
If there is a surplus at a given price, then
A. The market is in equilibrium at that price. B. That price is lower than the equilibrium price. C. That price is greater than the equilibrium price. D. The price is zero.