In ________ the United States Congress passed the Sherman Antitrust Act.
A. 1787
B. 1890
C. 1914
D. 1950
Answer: B
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How does a network externality serve as a barrier to entry? Is this barrier surmountable? Explain
What will be an ideal response?
The circular flow diagram divides the economy into:
a. Household sector and business sector. b. Real sector and nominal sector. c. Domestic sector and foreign sector. d. Agricultural sector and non-agricultural sector. e. None of the above is correct.
An increase in demand will cause a relatively small increase in price when:
A. the increase in demand is small. B. demand is highly elastic. C. supply is highly elastic. D. All of these
By Marks buys a one-year German government bond (called a bund) for $400. He receives principal and interest totaling $436 one year later. During the year the CPI rose from 150 to 162. The nominal interest rate on the bond was ________, and the real interest rate was ________.
A. 9%; 1% B. 36%; 24% C. 9%; -1% D. 36%; 12%