All of the following are exempted from antitrust laws EXCEPT
A. labor unions.
B. hospitals.
C. Microsoft Windows.
D. professional baseball.
Answer: C
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Consumers have to make tradeoffs in deciding what to consume because
A) there are not enough of all goods produced. B) the prices of goods vary. C) not all goods give them the same amount of satisfaction. D) they are limited by a budget constraint.
Refer to Figure 8.3. Holding other variables constant, a decrease in households' wealth accompanied by an increase in the capital stock will definitely result in
A) an increase in the equilibrium quantity of labor. B) a decrease in the equilibrium quantity of labor. C) an increase in the equilibrium real wage. D) a decrease in the equilibrium real wage.
The permanent income hypothesis highlights the phenomenon of ________
A) the intertemporal budget constraint B) a binding borrowing constraint C) autonomous consumption D) consumption smoothing
Explain why risk can be insured against but uncertainty cannot
What will be an ideal response?