Microsoft is accused of which anti-competitive practice?
a. interlocking directorates
b. illegal "bundling" of products
c. exclusive contracts
d. predatory pricing
b
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In 1973, the Club of Rome published a book titled The Limits to Growth, which predicted that economic growth would likely end in high-income countries because of
A) increasing pollution and the depletion of natural resources. B) rapid increases in government debt. C) declining populations. D) increases in outsourcing of the production of goods and services to low-income countries.
Most of the debates in the U.S. Congress center on
A) efficiency concerns. B) equity concerns. C) both efficiency and equity equally. D) market inefficiency.
If the absolute price elasticity of demand for a product is greater than 1, then
A) consumers are relatively insensitive to price changes. B) consumers are relatively sensitive to price changes. C) there is a positive relationship between price changes and total revenue. D) producers are relatively insensitive to price changes.
Suppose that one year ago you purchased a $1,000 bond with an interest payment of $40 per year and, at the time, the interest rate was 4 percent. One year later the interest rate on bonds has increased to 5 percent, and you still hold the bond you purchased a year ago. If you were to sell your bond now, the price that you could sell it for would be
A) higher than it was when you bought it. B) lower than it was when you bought it. C) the same as it was when you bought it, that is, $1,000. D) lower or higher than it was when you bought it, but we cannot determine which.