All of the following are exempt from antitrust laws EXCEPT
A) labor unions.
B) professional baseball.
C) oil companies.
D) public utilities.
Answer: C
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Competition among sellers occurs
A) when marginal revenue equals marginal cost. B) when price equals marginal cost. C) when price equals marginal revenue. D) whenever sellers try to attract customers from one another.
At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?
A) 6 percent B) 10 percent C) 12 percent D) None of the above answers are correct because more information is needed to calculate the inflation rate.
A contractionary monetary policy tends to ____ the United States dollar relative to foreign currencies, and to _____ our balance of trade.
A. raise; help B. raise; hurt C. lower; help D. lower; hurt
In a market without government interference, the price is free to move the equilibrium
a. True b. False Indicate whether the statement is true or false