One school of anti-trust thought argues that, rather than ensuring efficiency, anti-trust laws are really aimed at
A) protecting small independent firms against large corporations.
B) outlawing all monopolies whether they perform "bad acts" or not.
C) price differentiation due to differences in quality and cost.
D) restricting interlocking directorates.
A
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A report indicated that the average real wage in manufacturing declined by 2% between 1990 and 2000. If the CPI equaled 1.30 in 1990, 1.69 in 2000, and the average nominal wage in manufacturing was $35 in 2000, what was the average nominal wage in manufacturing in 1990?
A. $27.47 B. $26.92 C. $21.13 D. $26.40
Refer to Scenario 2. The average fixed cost of 2 units of output is:
A) $8.00. B) $8.50. C) $12.00. D) $20.50.
A new law requiring plumbers to pass strict certification tests that reduce the number of plumbers would
a. increase the wage rate of plumbers. b. decrease the wage rate of plumbers. c. increase the employment of plumbers. d. cause no change in the labor market for plumbers.
The central prediction of the Hecksher-Ohlin theorem is that
a) international goods prices equalize under foreign trade b) comparative advantages depend on the abundance of factor inputs c) international trade disperses technology, speeding convergence d) all nations move beyond their production possibilities sets with free trade e) exchange rates adjust to ensure purchasing power parity