There are many exemptions from antitrust laws. Which of the following is NOT one of them?
A. hospitals
B. public utilities
C. labor unions
D. Internet service providers
Answer: D
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If net exports fall $40 billion, the MPC is 9/11, and there is a multiplier effect but no crowding out and no investment accelerator, then
a. aggregate demand falls by 2 x $40 billion. b. aggregate demand falls by 11/2 x $40 billion. c. aggregate demand falls by 11/9 x $40 billion. d. aggregate demand falls by 9/11 x $40 billion.
Given their skills and education, steelworkers earn higher incomes than they would in other occupations. This is partly because:
A. steel workers face a higher risk of getting injured or killed. B. it is costly to acquire skills necessary for jobs at steel mills. C. few people have skills and knowledge required for jobs at steel mills. D. All of these
The lowest rate of output per unit of time at which long-run average costs for a particular firm are at a minimum is
A) economies of scale. B) diseconomies of scale. C) constant returns of scale. D) minimum efficient scale.
The law of diminishing marginal utility implies that as a household consumes more of a product, its total utility will increase by larger amounts -assuming marginal utility remains positive.
Answer the following statement true (T) or false (F)