Which of the following is exempt from antitrust laws?
A. professional football
B. airlines
C. petroleum companies
D. hospitals
Answer: D
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In the Classical system, the total output of goods and services and total employment are determined by all of the following except
A) the interest rate. B) the labor force. C) the supply of capital. D) existing technology.
The above figure shows the cost curves for a competitive firm. If the firm is to earn economic profit, price must exceed
A) $0. B) $5. C) $10. D) $11.
The benefits paid by the largest pension program in the United States are: a. not adjusted for changes in the price level
b. adjusted for changes in the price level. c. revised every five years. d. adjusted for changes in the nominal rate of interest. e. adjusted for changes in the real rate of interest.
Both marginal revenue and marginal revenue product refer to the gains to the firm from employing one additional worker
a. True b. False