The legislation that prohibited "every contract, combination, ...or conspiracy" that limits competition is the:
A. Federal Trade Commission Act.
B. Clayton Act.
C. Sherman Act.
D. Celler-Kefauver Act.
Answer: C
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The nominal wage rate is the
A) minimum hourly wage that a company can legally pay a worker. B) average hourly wage rate measured in the dollars of a given reference base year. C) minimum hourly wage rate measured in the dollars of a given reference base year. D) average hourly wage rate measured in current dollars. E) wage rate after inflation has been adjusted out of it.
A decrease in the real interest rate outside of the United States will cause net capital outflows to ________ and cause the dollar to ________ relative to other currencies
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
Songwriters and composers press music companies to lower the price for music downloads because
a. demand for on-line music is inelastic b. profits are maximized where price elasticity of demand is -1.0 c. songwriter royalties are a percentage of sales revenue d. profits and total revenue are maximized at different quantities e. profits are maximized at the same prices as sales revenue
In the modern Keynesian model, over much of its range the short-run aggregate supply (SRAS) curve is
A. downward sloping. B. vertical. C. upward sloping. D. horizontal.