The total of all past government borrowing, minus government budget surpluses, is called the
A. fiscal cost.
B. national cost.
C. net debt load.
D. public debt.
Answer: D
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Why is the Clayton Act of 1914 considered to have been favorable to the interests of organized labor?
(a) It restricted the application of the Sherman Antitrust Act and excluded labor unions from it. (b) It legalized collective bargaining for the first time. (c) It declared labor to be an article of commerce. (d) It forbade the use of injunctions by the courts to stop strikes.
Treble damages are equal to ________ times the amount of damages suffered by the ________.
A) five; cartel firm B) five; winning plaintiff C) three; cartel firm D) three; winning plaintiff
If the total utility Jack receives from 10 gallons of gasoline is 16, and the total utility Jack receives from 11 gallons of gasoline is 20, the marginal utility of the 11th gallon of gasoline is
a. 1 b. 4 c. 7 d. 20 e. 21
If two firms form a successful cartel, then the output that the two produce in total will
A. be equal to the output in perfect competition. B. be equal to the output of a monopoly market. C. be greater than the output without the cartel. D. be the same as if the market had many firms.