If minimum wage legislation does cause unemployment, then:
A. those who are lucky enough to land jobs benefit.
B. those who become unemployed as a result lose.
C. firms will not bear the entire burden of the higher cost of employment.
D. All of these are true.
D. All of these are true.
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Tina's marginal utility of her first piece of cake is 15, while Jerry's marginal utility of his first piece of cake is 24 . An economist would conclude that
a. Tina likes cake more than Jerry likes cake b. Jerry likes cake more than Tina likes cake c. Tina likes cake less than Jerry likes cake d. Jerry likes cake less than Tina likes cake e. we can't judge who values cake more
The Fed would use a reverse repo when they:
A. forecast a permanent increase in the demand for monetary base. B. forecast a permanent decrease in the demand for monetary base. C. want to temporarily increase the monetary base. D. want to temporarily decrease the monetary base.
When a firm is awarded a patent, it is given monopoly rights to the production of that product for ________ years.
A. 10 B. 20 C. 30 D. 50
What is the relationship between the Sherman Antitrust Act and the Clayton Act?
A. The Clayton Act strengthened the Sherman Antitrust Act by limiting some very specific business practices. B. The Sherman Antitrust Act encouraged competition among firms in the U.S. while the Clayton Act encouraged competition among foreign firms. C. The Clayton Act was the first act passed and the Sherman Antitrust Act was the second. D. Both Acts deal with issues of setting price and quantity for regulated industries.