Answer the following statement true (T) or false (F)
1) Proposed ergonomics regulations are an example of industrial regulation (rather than social
regulation).
2) Tying agreements are contracts by which retailers agree to charge the prices that
manufacturers set on branded goods.
3) The Celler-Kefauver Act outlawed interlocking directorates.
4) The regulation of natural monopolies has been criticized because it creates a tendency for
regulated firms to use too much labor and too little capital in the production process.
1) F
2) F
3) F
4) F
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The exchange rate system agreed to in 1944, in which the U.S. government agreed to buy or sell gold at a fixed price of $35 per ounce, is referred to as
A) the Bretton Woods System. B) the gold standard. C) a flexible exchange rate system. D) a floating currency standard.
Using the aggregate demand-aggregate supply model, explain and demonstrate graphically the short-run and long-run effects of an increase in the money supply
What will be an ideal response?
The Sherman Antitrust Act
a. was passed to encourage judicial leniency in the review of cooperative agreements. b. was concerned with self-interest dominated Nash equilibriums in prisoners' dilemma games. c. enhanced the ability to enforce cartel agreements. d. restricted the ability of competitors to engage in cooperative agreements.
Ricky leaves his job as a high school math teacher and returns to school to study the latest developments in computer programming, after which he takes a higher paying job at a software firm. This is an example of
a. A compensating differential. b. Human capital. c. Signaling. d. Efficiency wages