The U.S. Justice Department prosecuted Microsoft under the terms of
A) the Sherman Act.
B) the Kefauver amendment.
C) the 1933 amendment to the Federal Trade Commission Act.
D) none of the above.
A
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According to the circular flow, the value of total output produced and total income
A) will be equal. B) should increase by the unanticipated rate of inflation. C) should differ by the value of intermediate goods. D) will always be increasing in a capitalist economy.
Suppose that short skirts that were fashionable in the 1990s become unfashionable in the late 2000s. If other factors were held constant, then there would be
A) a rightward movement along the supply curve. B) a rightward shift of the demand curve. C) a leftward shift in the demand curve. D) a leftward movement along the supply curve.
If the stores could co-operate, what is the new Nash equilibrium?
a. Megastore $95 and Superstore $80 b. Megastore $305 and Superstore $55 c. Megastore $65 and Superstore $285 d. Megastore $165 and Superstore $115
You are staying in London over the summer and you have a number of dollars with you. If the dollar appreciates relative to the British pound, then other things the same,
a. the dollar would buy more pounds. The appreciation would discourage you from buying as many British goods and services. b. the dollar would buy more pounds. The appreciation would encourage you to buy more British goods and services. c. the dollar would buy fewer pounds. The appreciation would discourage you from buying as many British goods and services. d. the dollar would buy fewer pounds. The appreciation would encourage you to buy more British goods and services.