The three acts that form the basic machinery behind the U.S. anti-trust laws are the Sherman Act of 1890, the Federal Trade Commission Act of 1914, and the Robinson Patman Act of 1836
Indicate whether the statement is true or false
False
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While making a purchase decision using marginal thinking, a buyer should buy the good that yields the:
A) highest marginal benefit per dollar spent. B) lowest marginal benefit per dollar spent. C) highest average benefit plus marginal benefit per dollar spent. D) lowest average benefit plus marginal benefit per dollar spent.
Other things remaining the same, the ________ the exchange rate for dollars, the greater the ________ in the foreign exchange market
A) higher; quantity of dollars supplied B) higher; quantity of dollars demanded C) lower; value of U.S. imports D) higher; expected profits from holding dollars
Which of the following transactions adds to U.S. GDP for 2015?
a. In 2015, Ann sells a car that she bought in 2011 to Bill for $7,000. b. An American management consultant works in Canada during the summer of 2015 and earns the equivalent of $40,000 during that time. c. When Ken and Kim were both single, they lived in separate apartments and each paid $800 in rent. Ken and Kim got married in 2015 and they bought a previously unoccupied house that, according to reliable estimates, could be rented for $1,700 per month. d. None of the above transactions adds to U.S. GDP for 2015.
Which of the following would you need to know to calculate the unemployment rate?
a. the size of the active military b. the number of discouraged workers c. the size of the civilian labor force d. the number of workers still enrolled in high school