Comparative advantage explains how two nations can benefit from trade
a. True
b. False
Indicate whether the statement is true or false
True
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The federal law that prohibits, among other things, price discrimination that lessens competition, the use of tie-in sales, and mergers between firms that reduce competition is the:
A) Sherman Act of 1890. B) Clayton Act of 1914. C) Federal Trade Commission Act of 1914. D) Celler-Kefauver Act of 1950.
The gap between the current unemployment rate and the natural rate of unemployment is called:
A) frictional unemployment B) structural unemployment C) cyclical unemployment D) full employment
Intermediate products:
a. produced domestically are not directly reflected in a nation's GDP. b. produced domestically are reflected directly in a nation's GDP. c. are imported retail products d. are goods that are purchased by the ultimate user.
Productivity tends to
A. fall during expansions. B. rise during expansions. C. rise throughout the business cycle. D. rise during contractions.