The first Federal antitrust law, passed by Congress in 1890, was the:
A. Sherman Act.
B. Clayton Act.
C. Federal Trade Commission Act.
D. Celler-Kefauver Act.
Answer: A
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If speculators believe a currency is undervalued, their trades in international exchange markets will
A) increase the surplus of the currency at the existing fixed exchange rate. B) increase the shortage of the currency at the existing fixed exchange rate. C) decrease the shortage of the currency at the existing fixed exchange rate. D) decrease the surplus of the currency at the existing fixed exchange rate.
An unexpected rise in New Home Sales should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
The gross domestic product of Solvasa, a small island country, is U.S. $68 billion. The adult population of the country is 8.70 million and 11.3 million citizens are below 18 years of age. The output per capita of Solvasa is approximately equal to _____
a. $7,800 b. $3,400 c. $6,017 d. $5,201 e. $6,950
A price floor is
A. the difference between the initial equilibrium price and the equilibrium price after a decrease in supply. B. the minimum price that consumers are willing to pay for a good. C. a maximum price set by government that sellers may charge for a good. D. a minimum price set by government that sellers may charge for a good.