A government agency charged with enforcing antitrust laws is
A. the Federal Reserve Board.
B. the National Labor Relations Board.
C. the Federal Trade Commission.
D. the Council of Economic Advisors.
Answer: C
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Suppose that foreign citizens decide to purchase more U.S. pharmaceuticals and U.S. citizens decide to buy more stock in foreign corporations. Other things the same, these actions
a. raise both U.S. net exports and U.S. net capital outflows. b. raise U.S. net exports and lower U.S. net capital outflows. c. lower both U.S. net exports and U.S. net capital outflows. d. lower U.S. net exports and raise U.S. net capital outflows.
For most firms, the biggest cost of doing business is wages.
Answer the following statement true (T) or false (F)
The long-run effect of increasing government budget deficits includes
A. no change in equilibrium real GDP. B. an increase in the price level. C. a redistribution of output from privately provided goods to government provided goods. D. all of these.
Comparative advantage refers to the ability to produce at a lower financial cost than a competitor.
Answer the following statement true (T) or false (F)