Archer Daniels Midland (ADM) was convicted for this anticompetitive practice in the lysine market.
A. Price fixing
B. Predatory pricing
C. Bundling
D. Exclusive supply contracts
Answer: A
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In the U.S., the largest share of national income is earned in the form of
a. taxes on production. b. wages and salary. c. interest earned on capital. d. corporate profits.
Some economists agree that monopolies are inevitable and bad, but they also believe that price regulation is the wrong way to combat the high prices of a monopolist. They prefer
a. deregulating prices b. nationalization c. laissez-faire d. encouraging concentration e. splitting up the monopoly
Macroeconomists think that
a. most questions about individual markets are more important than the overall economy. b. questions of overall unemployment are less important than the jobs of particular workers. c. the details of resource allocation and individual market prices are less important than the amount of national output. d. the causes of unemployment usually lie with the personalities of individual workers. e. the price of particular products is more important than the overall price level.
Ceteris paribus, if the AD shortfall equals $600 billion, then the federal government can close it by increasing
A. Taxes by more than $600 billion. B. Government spending by exactly $600 billion. C. Government spending by less than $600 billion. D. Taxes by exactly $600 billion.