The primary purpose of antitrust legislation is to
a. protect small businesses.
b. protect the competitiveness of U.S. markets.
c. protect the prices of American-made products.
d. ensure firms earn only a fair profit.
b
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Refer to Figure 2-12. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of milk?
A) They have the same advantage. B) Tahiti C) Bora Bora D) cannot be determined
If a company owns plants at various stages of the production process, this is called:
A. a multiplant firm. B. a conglomerate. C. a vertically integrated firm. D. an industry.
Which of the following is a question answered with positive economic analysis?
A. Should the college reduce tuition for out-of-state residents? B. Should the college charge higher tuition for part-time students? C. If the college increased its eligibility requirements for enrollment, will class sizes decline? D. Should the college eliminate its athletic program to cut its costs?
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.