Which of the following is not a type of labor law in the United States?
A. Maximum wage laws
B. Overtime pay laws
C. Worker safety and health laws
D. Child labor laws
Answer: A
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
When measuring GDP,
A) the government sector is not included because it is the public sector not the private sector. B) the government sector is counted, and the value of the government sector in GDP is equal to its tax revenue. C) only the federal government's expenditure on goods and services are included. D) the expenditure on goods and services by all levels of government are included. E) the government sector is not counted because it does not produce goods and services.
When existing firms leave a perfectly competitive market, it causes:
A) an increase in the profitability of existing firms. B) a decrease in the profitability of existing firms. C) a right shift in the demand curve of the good being produced by the firms. D) a left shift in the demand curve of the good being produced by the firms.
List and describe the two government agencies that enforce antitrust laws in the United States
What will be an ideal response?