The Clayton Act of 1914 allows those harmed by illegal arrangements to restrain trade to
a. sue for up to two times the damages they incurred.
b. sue for up to three times the damages they incurred.
c. sue for up to four times the damages they incurred.
d. sue for damages, but only for the actual amount of damages they incurred.
b
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The terms “correlation” and “causation” are synonymous.
Answer the following statement true (T) or false (F)
Lower levels of education and training are often associated with low levels of
a. production. b. productivity. c. inflation. d. both a and b.
Refer to the diagram. Assume that for the entire business sector of a private closed economy there is $0 worth of investment projects that will yield an expected rate of return of 25 percent or more. But there are $15 worth of investments that will yield an expected rate of return of 20- 25 percent; another $15 with an expected rate of return of 15-20 percent; and similarly an additional $15 of investment projects in each successive rate of return range down to and including the 0-5 percent range. Which of the lines on the diagram represents these data?
A. A.
B. B.
C. C.
D. D.
Answer the following statements true (T) or false (F)
1. One major factor that serves as an economic basis for world trade is the uneven distribution of resources among nations. 2. If a nation's labor can produce more of a good compared to labor in another nation, then we say that the first nation has a comparative advantage in producing that good. 3. In a two-nation two-good world, it is possible for one nation to have the comparative advantage in both goods. 4. If two nations specialize in their respective comparative advantage and then trade with each other, both nations can consume output-combinations that are beyond their production possibilities curves. 5. In a two-nation two-good world, if one nation is more efficient in producing both goods than the other nation, then the more-efficient nation cannot gain from trading with the other nation.