Which of the following is a reason why American ideology regarding antitrust policy has changed over the past few decades?
A. Fewer foreign firms face restrictions in their home countries.
B. More foreign producers provide competition for domestic producers.
C. More Americans are stockholders and benefit from monopolies.
D. Fewer Americans are involved in the political process.
Answer: B
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The marginal cost curve crosses
a. only the average variable cost curve at its bottom. b. both the average cost curve and the average variable cost curve at their bottoms. c. only the average cost curve at its bottom. d. the marginal product curve at its maximum.
Refer to the figure above. Which of the following statements is true?
A) Ryan has a comparative advantage in the production of Good 1, whereas Tom has a comparative advantage in the production of Good 2. B) Ryan has a comparative advantage in the production of Good 2, whereas Tom has a comparative advantage in the production of Good 1. C) Ryan has a comparative advantage in the production of both the goods. D) Tom has a comparative advantage in the production of both the goods.
What are the basic arguments of the neoclassical growth theory?
What will be an ideal response?
Refer to Figure 9-2. Without the tariff in place, the United States produces
A) 9 million pounds of rice. B) 15 million pounds of rice. C) 31 million pounds of rice. D) 42 million pounds of rice.