What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. the Celler-Kefauver Anti-Merger Act
b. the Sherman Antitrust Act
c. the Clayton Act
d. the Wheeler-Lea Act
e. the Clayton-Celler Act
B
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Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile
a. True b. False Indicate whether the statement is true or false
Diminishing marginal returns implies
A) decreasing average variable costs. B) decreasing marginal costs. C) increasing marginal costs. D) decreasing average fixed costs.
Refer to the above table. What are total variable costs at an output of 3 units?
A. $120 B. $270 C. $150 D. $90
The process by which resources are transformed into useful forms is
A. production. B. allocation. C. consumption. D. capitalization.