The other name for the National Labor Relations Act of 1935 is
A) the Wagner Act.
B) the Taft-Hartley Act.
C) the Clayton Act.
D) the Wheeler-Lea Act.
Answer: A
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National income is derived from gross domestic product by
A) adding personal income and transfer payments to gross domestic product. B) subtracting depreciation from gross domestic product. C) subtracting retained earnings from gross domestic product. D) adding personal taxes and depreciation to gross domestic product.
Which of the following is most likely to increase U.S. exports?
a. The government gives subsidies to U.S. firms that export goods or services. b. The government reduces the size of the budget surplus. c. The United States unilaterally reduces its restrictions on foreign imports. d. Taxes on domestic saving rise.
The economic philosophy that favors strict limits on imports and strong support for exports is called
A) zero sum. B) mercantilism. C) comparative advantage. D) absolute advantage.
In a duopoly, if one firm increases its price, then the other firm can:
A. Keep its price constant and thus increase its market share B. Keep its price constant and thus decrease its market share C. Increase its price and thus increase its market share D. Decrease its price and thus decrease its market share