Which of the following is exempt from antitrust laws?
A) professional football
B) petroleum companies
C) airlines
D) hospitals
Answer: D
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National income is equal to ________.
A. rent + transfer payments + interest + wages B. gross investment - depreciation + indirect business taxes - net foreign income C. wages + rent + interest + profits and losses D. net investment + depreciation + net exports + net foreign income
Policymakers often use the natural rate of unemployment as a basis in policy formulations
Indicate whether the statement is true or false
The substitution of one good for another by consumers:
A. due to price changes is captured by the CPI. B. due to changes in tastes/preferences is captured by the CPI. C. is captured by the CPI. D. is not captured by the CPI.
If the absolute value of the tax elasticity of supply is 8, a tax cut of 0.5 percent should cause the output supplied to
A. Decrease by 16 percent. B. Decrease by 4 percent. C. Increase by 4 percent. D. Increase by 16 percent.