In 1914, the United States Congress
A. created the Per Se Rule.
B. created the Federal Trade Commission.
C. passed the Sherman Antitrust Act.
D. passed the Rule of Reason Act.
Answer: B
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Refer to Figure 12-4. What is the amount of its total fixed cost?
A) $1,080 B) $1,440 C) $2,520 D) It cannot be determined.
To maximize its profit, a monopoly should choose a price where demand is:
a. elastic. b. inelastic. c. unitary elastic. d. vertical.
Fluctuations around the long-run aggregate supply curve are:
A. called the business cycle. B. experienced as expansions, recessions, and recoveries. C. normal for an economy. D. All of these are true.
According to the principle of monetary neutrality, a decrease in the money supply will not change
a. nominal GDP. b. the price level. c. unemployment. d. All of the above are correct.