The first federal antitrust law enacted in the United States was:
a. The Clayton Act
b. Thr Sherman Antitrust Act
c. The Robinson Patman Act
d. The Federal Trade Commission Act
e. The Herfindahl-Hirschman Act
B
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Suppose that technological advancement makes labor more productive. What is likely to happen to wages and to potential output?
A) Wages decrease and potential output increases. B) Wages decrease and potential output decreases. C) Wages increase and potential output increases. D) Wages increase and potential output decreases.
Refer to Table 4.2. If you choose to invest in Japanese bonds, your investment return from Scenario C will be
A) -3%. B) -1%. C) 2%. D) 5%.
The social and economic environment plays a secondary role when compared to the importance of land, labor, capital, and entrepreneurship
Indicate whether the statement is true or false
If the price level in the current period is higher than what buyers and sellers anticipated,
a. profit margins will be unattractive and firms will expand output. b. profit margins will be unattractive and firms will reduce output. c. profit margins will be attractive and firms will expand output. d. profit margins will be attractive and firms will reduce output.