Which of the following was not an industry the government has used the Sherman Act to break up because it was a monopoly?
A. Aluminum
B. Oil
C. Railroad
D. Technology
Answer: D
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The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400 &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000 &400Application of the Cost-Benefit Principle would lead one to purchase a ________ computer.
A. 2.5GHz B. 2.0GHz C. 3.0GHz D. 4.0GHz
Use the idea of external costs to explain why some cities have laws against late-night rock concerts
What will be an ideal response?
Since the period following World War II (the early 1950s), the proportion of most countries' production being used in some other country
A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend. E) increased slightly before dropping off.
Why is it hypothesized that the slope of the age-earnings profile is likely steeper for workers who remain with their job (i.e., job stayers) compared to workers who experience job separation (i.e., quits and layoffs)?
A. Workers who experience a job separation experience a jump down in the age-earning profile, which then must be flatter by construction. B. Workers who experience job turnover, both quits and layoffs, are less productive than job stayers. C. Workers with longer tenure at their current firm have invested more in valuable firm-specific training. D. Workers who experience a job separation must pay for their own job retraining. E. None of the above explain why the age-earnings profile is steeper for job stayers compared to workers who experience job separation.