What is a problem with anti-trust laws involving restrictive practices?
a. The practices are not always illegal.
b. So many firms engage in the practices, it is hard to prosecute all the firms.
c. The practices do not cause prices to increase in all cases.
d. What practices are illegal is clearly understood.
a. The practices are not always illegal.
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If a 5 percent increase in the price of good A leads to a 4 percent decrease in the demand for good B, then ________
A) the goods are substitutes B) only one good is a normal good C) the goods are complements D) both goods are normal goods
The invention of the integrated circuit by Jack Kilby of Texas Instruments gave rise to the information age. What did this technological change do the short-run supply curve?
A) It moved the economy up along a stationary short-run aggregate supply curve. B) It shifted the short-run aggregate supply curve to the left. C) It shifted the short-run aggregate supply curve to the right. D) It moved the economy down along a stationary short-run aggregate supply curve.
What do economists mean when they state that investment is spending on “goods for the future”?
Please provide the best answer for the statement.
Per capita means per person.
Answer the following statement true (T) or false (F)