In connection with laborers, the law of conspiracy meant that
(a) employers had every right to organize or conspire to keep wages low and prices high.
(b) workers had every right to organize or conspire to keep wages high and working
hours short.
(c) workers could organize unions to promote their own interests as long as they did it publicly
and in fair dealings with employers and did not "conspire" to do it in secret meetings not
open to the public.
(d) worker organizations aimed at promoting the economic interests of the members
were illegal.
(d)
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The process by which an increase in government borrowing results in less borrowing by businesses and consumers for private investment is called
A. expansionary fiscal policy. B. the business cycle. C. crowding out. D. contractionary fiscal policy.
The desired reserve ratio is 10 percent. Joe deposits $1,000 in Bank A. Bank A keeps its minimum desired reserves and lends the excess to Fred
Fred spends his loan at J.C. Penney. J.C. Penney deposits the check it receives from Fred in Bank B. Bank B keeps its minimum desired reserves and lends the excess to Mary. How much can Bank B lend to Mary? A) $90 B) $900 C) $810 D) $1,000 E) $100
The figure above shows the U.S. production function. How would an increase in capital be shown in the figure?
A) an upward shift or rotation of the production function B) a downward shift or rotation of the production function C) a movement from point A to point B D) a movement from point C to point B E) None of the above because the effects of an increase in capital cannot be shown in the figure.
All of the following are true regarding tacit collusion except which one?
A) It harms buyers. B) It is more likely when firms' costs are closely related and their products are close substitutes. C) It is more likely when barriers to entry are low. D) It is an informal, unstated agreement.