The antitrust laws regulate all of the following business decisions except ____
a. collusion
b. mergers
c. monopolistic practices
d. price discrimination
e. wage levels
e
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If the marginal tax rate is 20%, by how much must income have increased if your tax bill increases by $300?
A. $1,500 B. $300 C. $1,000 D. Cannot be determined
The supply of labor is determined by the:
A. number of workers. B. opportunity cost of hiring labor. C. marginal product of labor. D. All of these statements are true.
Assuming MPC is 0.90, what effect, if any, would a change in U.S. net exports of minus $20 billion have on the U.S. level of national income?
a. No effect since the goods would be consumed abroad b. National income increases by $200 billion c. National income decreases by $200 billion d. National income increases by $20 billion e. National income decreases by $20 billion
The derived demand curve for a resource is downward sloping because
a. the demand for products that utilize the resource is directly related to the price of the resource. b. the marginal productivity of resources will decline as their price increases. c. as the price of a resource rises, other resources will be less desirable than the higher priced resource. d. other resources will be substituted for a resource that increases in price.