A business executive who buys a portable computer so that she can work on airplanes is trying to reduce the cost of traveling
a. True
b. False
A
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The demand curve facing a monopolistic firm is
A. upward sloping. B. downward sloping. C. vertical. D. horizontal.
Jimmy Earl, a farmer, sells $20 worth of peanuts to a factory that manufactures peanut butter, which sells it for $45 . Which of the following is true?
a. Total value added is $65 b. The value of final sales is $65. c. The value of final sales is $25. d. Total value added is $25. e. Total value added is $45.
Which antitrust act prohibits exclusive dealing, tying contracts, stock acquisitions, and interlocking directorates?
a. Sherman Antitrust Act of 1890. b. Clayton Act of 1914. c. Federal Trade Commission Act of 1914. d. Robinson-Patman Act of 1936. e. Cell-Kefauver Act of 1950.
Countries with high labor costs tend to:
a. rely on only one method for the production of goods b. use more labor rather than capital in the production process. c. use more capital rather than labor in the production process. d. be relatively poor countries.