The Celler-Kefauver Act deals primarily with which of the following issues?
a. price discrimination
b. exclusive dealing
c. mergers
d. deceptive advertising
e. boards of directors
C
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Who among the following is most likely to favor an appreciation of the U.S. dollar?
a. a German professor visiting Chicago b. an American farmer who depends on exports c. an American professor on a tour of Austrian universities d. Disney World in Orlando, Florida, a popular destination for foreign tourists
If firms are producing at a profit-maximizing level of output where the price is less than the average total cost:
A. accounting profits will be zero. B. accounting profits must be positive. C. economic profits are negative. D. economic profits may be positive.
Which of the following countries has the lowest unionization rate?
A. Sweden B. Japan C. Australia D. The United States
Slopes of lines are especially important in economics because:
A. they measure marginal changes. B. they always tell us something about profits. C. positive slopes are always preferred to negative slopes. D. they always relate to resource and output scarcity.