For an actor whose natural talent is almost impossible to duplicate
A. part of his earnings consists of economic rents.
B. none of his earnings consist of economic rents since rent applies only to land.
C. all of his earnings consist of economic rents.
D. all of his earnings consist of interest payments.
Answer: A
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The antitrust laws regulate all of the following business decisions except ____
a. collusion b. mergers c. monopolistic practices d. price discrimination e. wage levels
People will spend more if the price level
a. rises because rising prices increase the real value of the fixed quantity of money. b. rises because rising prices decrease the real value of a dollar. c. falls because falling prices increase the real value of a dollar. d. falls because falling prices decrease the real value of a dollar.
The congressional act that established the U.S. central banking system in 1913 was the
A) Federal Reserve Act. B) Gramm-Rudman Act. C) Employment Act. D) Humphrey-Hawkins Act.
In the graph above, a government imposed price of $35 represents a price _____ and there is a _____.
A. floor; surplus
B. floor; shortage
C. ceiling; surplus
D. ceiling; shortage