The law that governs most government regulation of monopoly is
A. the End to Monopoly Act.
B. the Sherman Anti-Trust Act.
C. the Fair Trade Act.
D. the Wagner Anti-Monopoly Act.
Answer: B
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An increase in the productivity of producing jeans results in
A) the quantity of jeans supplied increasing. B) the supply of jeans increasing. C) buyers demanding more jeans because they are now more efficiently produced. D) buyers demanding fewer jeans because their price will fall, which signals lower quality. E) some change, but the impact on the supply of jeans is impossible to predict.
Unionization provides ____ in given occupations, and as a result, wage rates in these occupations have a tendency to ____
a. barriers to entry; decrease b. barriers to entry; increase c. ease of entry; decrease d. ease of entry; increase
A change in household preferences for saving that reduces the marginal propensity to save causes the consumption function to _____
a. become steeper b. become flatter c. shift upward d. shift downward
Over the entire period since 1950, average labor productivity in the United States has ________ although between 1973 and 1995 the rate of change ________.
A. decreased; slowed B. increased; slowed C. decreased; accelerated D. increased; accelerated