Policies that preclude the deliberate creation of monopoly and undesirable practices are called
A. antitrust policies.
B. antimonopoly policies.
C. anticompetitive policies.
D. socialism.
Answer: A
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The principal policy-maker of the Federal Reserve is the
A) Chairman of the Federal Reserve Board of Governors. B) president of the New York Federal Reserve bank. C) president of the Washington, D.C. Federal Reserve bank. D) Comptroller of the Currency.
Refer to the above table. What does total product equal when 4 units of labor are used?
A) 1328 B) 332 C) 320 D) 960.
A reason tariffs and quotas are imposed is that
A) their costs are spread among many people and their benefits are concentrated. B) their costs are concentrated and their benefits are spread among many people. C) they create net benefits in the long run. D) they reduce import dependence.
According to the efficiency wage model, firms will pay the real wage that
A) maximizes workers' marginal productivity. B) maximizes the marginal productivity of capital and the marginal productivity of labor together. C) maximizes effort per dollar of real wage. D) minimizes hiring and training costs to the firm.