In breaking up the Standard Oil Company, the U.S. Supreme Court established that a company's violation of the Sherman Antitrust Act was determined by:
A. whether or not the firm engaged in "unfair business practices."
B. the structure of the industry.
C. the percentage of the market controlled by the firm.
D. concentration ratios.
Answer: A
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Contractionary fiscal policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) lower; lower B) lower; higher C) higher; higher D) higher; lower
The biggest benefit to members of a union is:
A. being able to bargain as a group. B. keeping non-union workers out of their industry. C. negotiating minimum wage legislation. D. getting raises without having to do any work.
Which statement is false?
A. Crime and drugs are central to the ghetto culture. B. Ghetto residents are more likely to be street crime victims than middle class people. C. A basic way to reduce crime would be to alleviate poverty. D. None of these statements are false.
Which of the following statements is not true?
A. There is a wage premium for investing in high levels of education. B. The wage premium of men and women college graduates has been increasing over time. C. Better-educated individuals are more productive. D. Public policy initiatives that support on-the-job training have been met with mixed results.