Which of the following was NOT a factor in Japan's post-World War II economic success?
a. a high rate of investment
b. a well-educated workforce
c. a high rate of natural resource discovery
d. a high rate of technological adoption
c
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Which act of Congress declared tying contracts, exclusive dealing, and price discrimination illegal?
a. the Wheeler-Kefauver Act b. the Sherman Antitrust Act c. the Clayton Act d. the Wheeler-Lea Act e. the Celler-Kefauver Anti-Merger Act
Which of the following would be likely to expand a production possibilities curve?
a. a decrease in unemployment b. a decrease in price levels c. an increase in price levels d. none of the above
Other things constant, a decrease in credit card balances would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; not change.
For a pure monopolist, marginal revenue is less than price because:
A. the monopolist's demand curve is perfectly elastic. B. the monopolist's demand curve is perfectly inelastic. C. when a monopolist lowers price to sell more output, the lower price applies to all units sold. D. the monopolist's total revenue curve is linear and slopes upward to the right.