Antitrust laws in other countries are much stronger than U.S. antitrust laws
a. True
b. False
Indicate whether the statement is true or false
False
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Trade restrictions tend to preserve ________ in the protected industries and lead to ________ in other industries
A) no jobs; increased productivity B) almost all jobs; economic growth C) relatively few jobs; job losses D) well over half of the jobs; price decreases
Refer to Figure 9-2. Without the tariff in place, the United States produces
A) 9 million pounds of rice. B) 15 million pounds of rice. C) 31 million pounds of rice. D) 42 million pounds of rice.
The law of increasing opportunity cost states that
A. as output increases the marginal cost does not change. B. as output increases the marginal cost increases. C. as output decreases the marginal cost increases. D. as output increases the marginal cost decreases.
Which of the following decreases the supply of restaurant meals?
A) Waiters get a pay raise. B) Consumers' incomes increase and restaurant meals are a normal good. C) Consumers' incomes decrease and restaurant meals are a normal good. D) The price of movies, a complement to restaurant meals, falls.