The first antitrust law in the United States was the
A) Clayton Act.
B) Contestable Markets Act.
C) the Federal Trade Commission Act.
D) Sherman Antitrust Act.
Answer: D
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For a monopoly, the market demand curve is the firm's
A) supply curve. B) marginal revenue curve. C) demand curve. D) profit function.
Differences in the productivity of labor account for comparative advantage if:
a. the minimum wage varies across the countries. b. the size of the domestic market varies across the countries. c. different countries have differences in labor hours required to produce each good. d. the strength of workforce varies across countries. e. the laborers are paid different wages in different countries.
The idea that changes in investment and changes in national income are mutually reinforcing is the foundation of
a. the sunspot theory b. the war-induced cycle c. the housing cycle d. the innovation cycle e. internally generated cycles
The given schedule indicates that if the real interest rate is 8 percent, then:
Answer the question on the basis of the following table:
A. we cannot tell what volume of investment will be profitable.
B. $30 billion will be both saved and invested.
C. $30 billion of investment will be undertaken.
D. $60 billion of investment will be undertaken.