The U.S. law that declared monopolies illegal is the Sherman Act of 1890.
Answer the following statement true (T) or false (F)
True
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Which of the following describes a reason U.S. consumers might especially value trade with China?
a. China is a large market with potential to buy many U.S. exports. b. China supplies many goods imported to the United States. c. China and the United States have similar cultural practices. d. China was closed off from U.S. trade for several decades.
Most foreign investment is today is directed towards high-income countries because
A) there are tax breaks and subsidies available. B) markets are larger, so transportation costs are minimized by producing near the market. C) high-income countries are politically stable. D) there are no economies of scale in low-income countries.
Shocks to the economy occur when:
A. stock prices rise by more than 10 percent per year. B. government takes a more active role in the economy. C. prices are flexible. D. actual economic events do not match what people expected.
If the price of marshmallow exceeds the marginal value that the consumer places on marshmallows, then
a. the consumer is at the optimum. b. the consumer's level of satisfaction would increase if he buys more marshmallows and less of other goods. c. a surplus of marshmallows exists in the market. d. the optimum contains fewer marshmallows than the consumer is currently buying.