The Sherman Antitrust Act:
A. was passed in 1800.
B. was actively used by President Roosevelt in the early 20th century.
C. no longer applies to business practices today.
D. All of these statements are true.
Answer: B
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Grapes can be used to produce wine or raisins. Which graph in Figure 4-6 best depicts the effects on the U.S. raisin market of a decline in purchases of domestic wine?
A. 1 B. 2 C. 3 D. 4
The figure above shows the market for tires. The government has imposed a tax on tires, and the buyers pay ________ of the tax
A) $10 B) $20 C) $50 D) $60 E) $30
Society's core economic problem is
a. the role of government in the economy b. a scarcity of land, labor, and machinery to produce goods and services c. the federal budget deficit d. an unequal distribution of income e. low living standards
Indifference curves are steeper on the right and flatter on the left
a. True b. False Indicate whether the statement is true or false