The main goal of the Clayton Act was to
A. make restraint of trade illegal.
B. limit mergers and price-fixing contracts.
C. limit competition among small firms.
D. make deceptive practices illegal.
Answer: B
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In economics, the concept of surplus:
A. measures the benefit that people receive when they buy something for less than they would have been willing to pay. B. measures the benefit that people receive when they sell something for more than they would have been willing to accept. C. is the best way to look at the benefits people receive from successful transactions. D. All of these are true.
If the cross-price elasticity of demand is -3, then
a. the goods are substitutes b. one good is price inelastic c. one good is an inferior good d. one good is a luxury good e. the goods are complements
Society can produce at a point outside the production possibilities frontier, but only if it is using all of its resources efficiently
a. True b. False Indicate whether the statement is true or false
Which of the following is true if there is a surplus of loanable funds?
What will be an ideal response?