The possession of monopoly power and the willful acquisition of that power is
A) defined in the Sherman Antitrust Act as monopolization.
B) defined by the Supreme Court as monopolization.
C) not defined as monopolization until a statement about profits is included.
D) not the definition of monopolization.
Answer: B
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Explain the relationship between potential GDP and real GDP in the United States since the early 1960s. You do not need to tell what happened during any specific year; just describe the general relationship
What will be an ideal response?
GDP differs from GNP because
A) GDP = GNP - net factor payments from abroad. B) GNP = GDP - net factor payments from abroad. C) GDP = GNP - capital consumption allowances. D) GNP = GDP - capital consumption allowances.
Suppose a nation has a total population of 100,000,000. Out of that, 70% are in the labor force and 65% of the population is employed. What is the nation's unemployment rate?
A) 5.0% B) 7.1% C) 7.7% D) 30.0%
Which of the following is likely among the most concentrated industries in the United States?
A) printing and publishing B) soft drinks C) tobacco products D) household vacuum cleaners