Give some examples of the benefits and costs of antitrust laws
Benefits include promoting competition by preventing mergers and breaking-up companies. Costs are that they may increase cost of operating if they restrict synergy mergers.
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Some economists criticize the Lorenz curve because it
A. measures unreported income earned in the underground economy. B. uses after-tax income when pre-tax income is more appropriate. C. includes too many things in measuring income, such as food stamps, housing aid, and other government programs. D. does not account for the effect of age on a family's income.
An example of a renewable resource would be:
A. trees. B. oxygen. C. fish in the ocean. D. All of these are examples of renewable resources.
Which of the following is included in GDP calculations?
a. the college tuition paid to enroll in a course b. a check for $50 received on your birthday c. cash income received by a self-employed landscaper that is not reported to the IRS d. sales revenue received from a yard sale
Many kindergarten teachers have advanced education degrees, yet they have lower average earnings than other individuals with similar education levels. A potential explanation for the differences in earnings is that kindergarten teachers
a. have more pleasant working conditions. b. have less pleasant working conditions. c. work longer hours. d. must pass certification tests.