A major shortcoming of the Sherman Act was that:
A. It was too specific
B. It was never enforced by the courts
C. Violators of the act were forced out of business
D. It did not explicitly state which activities were illegal
D. It did not explicitly state which activities were illegal
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Use the following graph for a perfectly competitive firm to answer the next question.
If the firm is maximizing profits in the short run, the amount of economic profit per unit is
A. DH. B. EH. C. DE. D. DB.
Scott worked in a large foreign country. He retired in 2008 and his pension income is fixed at $1,500 per month. The table above gives the CPI in this country. What is the real monthly value of his pension in the years between 2008 and 2011?
What will be an ideal response?
Protectionism may fail to reduce a current account deficit because it
A. depreciates the dollar. B. invites retaliation, which hurts exports. C. encourages exports. D. does not reduce imports.
Uncoordinated decisions in perfect competition lead to mass confusion and inefficiency
a. True b. False Indicate whether the statement is true or false