When individuals are damaged by an illegal arrangement to restrain trade, which law allows them to pursue civil action and recover up to three times the damages sustained?
a. Trade Damage Act
b. Clayton Act
c. Sherman Act
d. No law allows individuals to pursue civil action and recover up to three times the damages sustained.
b
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Production refers to
A) physically producing material goods only. B) any activity carried on by a firm, whether a corporation, partnership, or sole proprietorship. C) any activity that results in the conversion of resources into goods and services that can be consumed. D) any activity that causes a material conversion of manufactured goods.
A price floor in a perfectly competitive market
a. creates more harm for sellers than gain for buyers b. is effective only it is set at the equilibrium price c. is a Pareto improvement d. can turn an inefficient outcome into an efficient outcome e. creates more harm for buyers than gain for sellers
The velocity of circulation is the number of times per year a dollar is spent
a. True b. False Indicate whether the statement is true or false
When the markets of an economy are more competitive, economic growth
What will be an ideal response?