What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. Celler-Kefauver Act.
b. Sherman Antitrust Act.
c. Clayton Act.
d. Robinson-Patman Act.
b
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Better health allows people to work harder, which raises a country's total income. This indicates that in effect, better health
A) shifts out a country's production possibilities frontier. B) is a primary cause of price increases. C) increases consumer surplus. D) reduces the incentive to work.
Which of the following is NOT an economic resource?
A) money B) low-skilled labor C) coal D) an engineer
A labor contract provides for a first-year wage of $10 per hour, and specifies that the real wage will rise by 3 percent in the second year of the contract and by another 3 percent in the third year. The CPI is 1.00 in the first year, 1.07 in the second year, and 1.15 in the third year. What dollar wage must be paid in the third year?
A. $12.20 B. $12.31 C. $11.15 D. $10.61
If an economy's population grows at 3 percent and real GDP grows at 2 percent, then:
A. per capita real GDP is declining. B. the economy's standard of living is increasing. C. per capita real GDP is negative. D. per capita real GDP is growing.