Cartels, tacit collusion, and predatory pricing are all illegal under U.S. antitrust laws.
Answer the following statement true (T) or false (F)
True
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A foreign exchange swap
A) is a spot sale of a currency. B) is a forward repurchase of the currency. C) is a spot sale of a currency combined with a forward repurchase of the currency. D) is a spot sale of a currency combined with a forward sale of the currency. E) make up a negligible proportion of all foreign exchange trading.
Economic profit is measured by
a. MR = MC b. TR – explicit costs – implicit costs c. TR – explicit costs d. TR – implicit costs e. P – MC
According to the Laffer curve, when the tax rate is 100 percent, tax revenue will be:
A. 0. B. at the maximum value. C. the same as it would be at a 50 percent tax rate. D. greater than it would be at a 50 percent tax rate.
Specialization can occur because
A) governments pass laws that require it. B) varying skills differentiate workers. C) absolute advantage creates specialization among laborers. D) managers and laborers share job tasks.