The Sherman Antitrust Act was passed to
A) protect companies from foreign competition.
B) protect the monopoly profits of firms.
C) control the growth of monopolies in the U.S.
D) prevent market price from equaling marginal cost.
C
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Labor productivity depends on the
a. the effectiveness of government b. the availability of technology c. the proportion of the labor force that is unionized d. the size of the economy e. All of the answers are correct
What is price elasticity of demand? Why is it significant?
Autonomous consumption equals total consumption when ___________________.
Fill in the blank(s) with the appropriate word(s).
If short-run equilibrium output equals 20,000 and potential output (Y*) equals 25,000, then this economy has a(n) ________ gap that can be closed by ________.
A. expansionary; increasing government purchases B. expansionary; increasing transfer payments C. recessionary; increasing taxes D. recessionary; increasing government purchases