Price-fixing:
A. is prohibited by Section 7 of the Clayton Act.
B. is a per se violation of the antitrust laws.
C. may be either legal or illegal depending on whether or not it produces above-normal profits.
D. is illegal under terms of the Federal Trade Commission Act.
Answer: B
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In Figure 4-10 above, preferring the "easy fiscal, tight money" policy mix at a certain income is why we are at
A) point A rather than point C. B) point C rather than point A. C) point D rather than point B. D) point B rather than point D.
Under TANF, by the year 2002, half of adult recipients were supposed to be in some form of work activity
Indicate whether the statement is true or false
U.S. firms can produce and sell electric fans for $25. The United States can also import electric fans from China at $40 each and from Canada at $45 each. Electric fans made in the United States, China, and Canada are identical. Currently, the United States imposes a 30% tariff on imported electric fans. Now suppose that the United States forms a free-trade area (NAFTA) with Canada and Mexico. From which country will the United States import fans?
a. China b. Canada c. It will import fans from neither China nor Canada. d. It will import fans from both China and Canada.
The expansion phase of the business cycle is typically associated with higher ________ and lower ________.
A. employment; income B. real GDP; unemployment C. income; real GDP D. unemployment; output