Which landmark legislation made it illegal to engage in predatory pricing and also prohibited mergers if it led to weakened competition?
a. Sherman Act
b. Robinson-Patman Act
c. Cellar-Kefauver Act
d. Clayton Act
d
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One reason some economists are critical of the Lorenz curve is because
A) it reflects income before taxes. B) it reflects income after taxes. C) it reflects only the top bracket of taxpayers. D) it reflects only the poor in the country.
One reason government deficits do not cause complete crowding out is because:
a. Saving increases by the amount that consumption falls when income changes. b. When the real risk-free interest rate rises, the real money supply rises due to changes in the public's preferred asset ratios (e.g., Cc/D, N/D, and U/D). c. As the real risk-free interest rate rises, government spending automatically rises to pay for the higher interest expenses. d. All the above. e. None of the above.
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week. Given this information and the fact
that the firm receives $200 per computer, the marginal revenue product of the third worker is A) $4,200. B) $12,000. C) $10,000. D) $14,000.
Related to the Economics in Practice on p. 431: ________ is responsible for producing and maintaining the National Income and Product Accounts (NIPAs).
A. The Department of Commerce B. The Department of the Treasury C. The Federal Reserve Bank D. Congress