A shift away from expenditures on domestic goods and a shift toward expenditures on foreign goods when the domestic price level increases is known as
A) the interest rate effect. B) demand side inflation.
C) the real-balance effect. D) the open economy effect.
D
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Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 680 machines. Jill's average product of labor equaled ________ lie detectors per worker
A) 680 B) 34 C) 23 D) 20 E) None of the above answers is correct.
Our measurement of output per worker is called:
A. productivity. B. production growth rate. C. nominal output. D. None of these is true.
The Robinson-Patman Act amended and further refined which of the following laws?
a. the Sherman Antitrust Act b. the Cellar-Kefauver Act c. the Clayton Act d. the FTC Act e. the Herfindahl-Hirschman Act
Smartphone companies protect their monopolies over new products they develop by utilizing
A) patent protection. B) low cost production. C) diseconomies of scale. D) zero economic profits in the long run.