The primary purpose of antitrust policy in the United States is to
A. Issue patents.
B. Encourage competition.
C. Regulate monopolies.
D. Limit foreign competition.
Answer: B
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An increase in the money supply: a. will definitely result in inflation if unemployment is high and there is much unused industrial capacity. b. shifts the aggregate demand curve to the left
c. will probably result in inflation if the economy is fully employed. d. causes interest rates to rise.
"When workers already have a large quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity only slightly.". This statement
a. represents the traditional view of the production process. b. is an assertion that capital is subject to diminishing returns. c. is made under the assumption that the quantities of human capital, natural resources, and technology are being held constant. d. All of the above are correct.
Human capital refers to the:
A. production per capita. B. skills, experience, and natural talent that determine the productivity of workers. C. the machinery and tools that labor can use for production. D. amount of people a firm has access to for production.
A business can escape perfect competition by building a better, more innovative product.
Answer the following statement true (T) or false (F)