Antitrust legislation is an attempt by government to make competition
A) equal.
B) efficient.
C) structured.
D) fair.
D
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If a conflict of interest exists
A) it will always have serious adverse consequences. B) it may not have a serious adverse consequences if the incentive to take advantage of the conflict is low. C) the government needs to step in to pass legislation to remove the conflict. D) there will not be serious adverse consequences, even if the incentive to take advantage of the conflict is low.
Suppose the population (age 16 and over) of Peru is 400 million; 20 million are unemployed, and 230 million hold jobs. What are the rates of unemployment and labor force participation of Peru?
a. Unemployment is 8 percent, and labor force participation is 62.5 percent. b. Unemployment is 8.7 percent, and labor force participation is 92 percent. c. Unemployment is 8.7 percent, and labor force participation is 62.5 percent. d. Unemployment is 5 percent, and labor force participation is 57.5 percent.
An example of capital is:
A) cash. B) a factory building. C) money in a checking account. D) the existing state of technology.
A perfectly competitive firm cannot earn an economic profit in the long run because
A) it is a "price-maker." B) it faces a perfectly inelastic demand curve. C) there are no barriers to entry into the industry. D) all firms in the industry earn accounting profits.