Price-fixing agreements among competing firms are a violation of the Clayton Antitrust Act
a. True
b. False
B
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Logrolling creates a political market and campaign donations are the medium of exchange
a. True b. False
The price of input goods changes due to _____________ or _______________ for that particular good.
Fill in the blank(s) with the appropriate word(s).
Based on the figure below. An economy is currently in long-run equilibrium at point B, at an inflation rate of ?', which is too high for to sustain economic growth. If an anti-inflationary policy is enacted, the economy will be in short-run equilibrium at point ________ creating _____gap.
A. A; a recessionary B. D; a recessionary C. D; an expansionary D. A; an expansionary
Which will NOT affect the elasticity of demand for labor?
A) the labor intensity of the production process B) the elasticity of supply for labor C) the elasticity of demand for the good D) the substitutability of capital for labor