The primary antitrust statute in the United States is the
A) NLRA of 1935.
B) SEC Act of 1933.
C) Sherman Antitrust Act of 1890.
D) Federal Reserve Act of 1913.
Answer: C
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Why is the indifference curve convex or bowed inward?
A. As you consume more of one good you are willing to give up less of the other good. B. As you consume less of one good you are willing to give up less of the other good. C. As you consume more of one good you are willing to give up more of the other good. D. As you consume more of one good you are willing to give up half of the other good.
What is the difference between "diminishing marginal returns" and "diseconomies of scale"?
A) Both concepts explain why marginal cost increases after some point but diminishing marginal returns applies only in the short run when there is at least one fixed factor, while diseconomies of scale applies in the long run when all factors are variable. B) Diminishing marginal returns, which applies only in the long run when all factors are variable, explains why average variable cost increases, while diseconomies of scale, which applies in the short run when at least one factor is fixed, explains why average total cost increases. C) Diminishing marginal returns, which applies only in the short run when at least one factor is fixed, explains why marginal cost increases, while diseconomies of scale, which applies in the long run when all factors are variable, explains why average cost increases. D) Both concepts explain why average total cost increases after some point but diminishing marginal returns applies only in the short run when there is at least one fixed factor, while diseconomies of scale applies in the long run when all factors are variable.
Stagflation at the end of the 1970s was marked by increasing inflation and unemployment
Indicate whether the statement is true or false
One major difference between Keynesian analysis and classical theory is that the classical theory assumes
a. a market economy. b. an agricultural economy. c. full employment as a norm. d. a constant money supply.