In 2000, Microsoft was
A. issued a consent decree requiring it to be sold to new owners.
B. found not guilty of violating U.S. antitrust laws.
C. fined more than $1 billion for violating U.S. antitrust laws.
D. ordered by a judge to split into two companies.
Answer: D
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Which of the following scenarios is an example of an investment in human capital?
A. A firm replaces manually controlled production with a computer-controlled procedure. B. A chemical firm supports research to develop new chemicals. C. A firm purchases new equipment for a manufacturing process. D. A firm pays for workers to take college classes.
The price elasticity of demand for oil is estimated at 0.05. This value means a 10 percent increase in the
A) quantity of oil demanded will result from a 0.5 percent increase in the price of oil. B) quantity of oil demanded will result from a 0.5 percent decrease in the price of oil. C) price of oil will increase the quantity of oil demanded by 0.5 percent. D) price of oil will decrease the quantity of oil demanded by 0.5 percent.
Neo-Keynesians believe that the market power exercised by unions, monopolies, and particular resource suppliers created the Phillips curve
Indicate whether the statement is true or false
Total changes in GDP over time are:
A. smaller than the annual growth rate due to compounding. B. smaller than the annual growth rate due to backsliding. C. bigger than the annual growth rate due to compounding. D. bigger than the annual growth rate due to population growth.