Restricting labor supply is typical of:
a. industrial unions.
b. craft unions.
c. neither industrial nor craft unions.
d. both industrial and craft unions.
b
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In 2011, the per capital output of goods and services in the United States was approximately
a. $15,000. b. $45,000. c. $8,000. d. $25,000.
Which of the following is held constant along an indifference curve?
A) the prices of the goods in question B) the total utility derived from consuming any bundle of goods on the indifference curve C) the marginal rate of substitution between the two goods in question D) the marginal utility derived from consuming any bundle of goods on the indifference curve
The college textbooks market is an example of
A) perfect competition. B) oligopoly. C) monopoly. D) monopolistic competition.
A conspiracy among firms to fix prices was outlawed by the Sherman Antitrust Act
a. True b. False Indicate whether the statement is true or false