A decrease in the quantity of labor supplied in response to a higher wage would be due to the:
A. substitution effect.
B. price effect.
C. income effect.
D. tax effect.
C. income effect.
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Which statement holds true for the period of slavery in U.S. history?
(a) Slavery was a moral institution. (b) The system wasted natural resources. (c) It provided slaveholders with incentives to avoid purchasing farm implements. (d) It developed land and profitably produced agricultural goods for sale in world markets.
What is an expansionary gap of real GDP? How is this expansionary gap eliminated in an economy?
Describe two historic legal cases to contrast the two different views of antitrust laws. One case would support the behavior list view of antitrust laws. The other case would support the structuralism views of the antitrust laws
What will be an ideal response?
A major shortcoming of the Sherman Act was that:
A. It was too specific B. It was never enforced by the courts C. Violators of the act were forced out of business D. It did not explicitly state which activities were illegal