What do antitrust laws enable the government to do?
a. Break up large firms into smaller ones
b. Acquire a controlling percentage of large firms
c. Require firms to sell off profitable operations
d. Block all mergers and acquisitions by foreign firms
a. Break up large firms into smaller ones
Antitrust laws enable the government to break up large firms into smaller ones.
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If the price elasticity of demand for a good is less than one in absolute value, economists would characterize consumers of this good
A) as not very sensitive to price. B) as not very sensitive to the quantity they demand. C) as very sensitive to price. D) as elastic.
Recall the Application about the impact of disability insurance benefits on the labor force participation rate to answer the following question(s).According to the results of the study featured in the Application, an increase in the disability benefits received by veterans resulted in:
A. no change in the labor force participation rate for those qualified to receive the benefits. B. a lower labor force participation rate for those not qualified to receive the benefits. C. a higher labor force participation rate for those qualified to receive the benefits. D. a lower labor force participation rate for those qualified to receive the benefits.
The measured unemployment rate tends to overstate the unemployment problem
Indicate whether the statement is true or false
Alice is willing to pay $3 for the second slice of pizza she eats. The price she pays is $2. Alice's consumer surplus for this slice of pizza equals
A) $0. B) $1. C) $2. D) $3.