Which act of Congress declared tying contracts, exclusive dealing, and price discrimination illegal?
a. the Wheeler-Kefauver Act
b. the Sherman Antitrust Act
c. the Clayton Act
d. the Wheeler-Lea Act
e. the Celler-Kefauver Anti-Merger Act
C
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Suppose the elasticity of labor demand is 0.6. Then a decrease in the wage rate will:
A. Decrease total wage income B. Increase total wage income C. Have no impact on total wage income D. Have an indeterminate impact on total wage income
In a recession, needs-tested spending ________ and induced taxes ________
A) increases; increase B) increases; decrease C) decreases; increase D) decreases; decrease E) increase; do not change
The aggregate supply curve is upward sloping in
a. the short and long run. b. neither the short nor long run. c. the long run, but not the short run. d. the short run, but not the long run.
A decrease in price of a certain good most likely will lead to
a. an increase in quantity demanded and an increase in demand. b. an increase in quantity demanded but no change in demand. c. an increase in demand but no change in quantity demanded. d. no change in demand and no change in quantity demanded.