Which of the following made monopoly and restraints of trade criminal offenses against the federal government?
A. Celler-Kefauver Act of 1950.
B. Wheeler-Lea Act of 1938.
C. Clayton Act of 1914.
D. Sherman Act of 1890.
Answer: D
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The more restrictive affirmative action programs are,
A) the greater the likelihood of the economic pie shrinking. B) the lower the administrative costs of administering the program. C) the larger the wage gap tends to get. D) the greater the amount of labor market discrimination.
The shape of an experience curve suggests that
A) specialization does not matter. B) learning does not pay. C) experience can lower costs. D) none of these choices.
A firm uses workers and seed to grow lettuce. Its lettuce output rises from 100 tons to 200 tons when the number of workers increases from 25 to 75 . Its production process shows
a. decreasing returns to scale. b. diminishing returns to labor. c. increasing long-run average cost. d. decreasing short-run average variable cost.
The production function has ____ on the horizontal axis.
A. real GDP B. capital stock C. technology D. labor input