Under the original Clayton Act, which of the following was not illegal?
a. Charging different prices for the same product.
b. Exclusive dealer agreements.
c. The purchase of the stock of a rival firm that lessens competition.
d. The purchase of the assets of a rival firm that lessens competition.
d
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An agreement negotiated by two countries that places a numerical limit on the quantity of a good that can be imported by one country from another country is called
A) an import quota. B) an export quota. C) a non-tariff trade barrier. D) a voluntary export restraint.
If an individual's supply of labor curve is positively sloped throughout, then
a. the substitution effect always dominates the income effect. b. the income effect always dominates the substitution effect. c. the substitution effect dominates at low real wage levels and the income effect dominates at high real wage levels. d. the income effect dominates at low real wage levels and the substitution effect dominates at high real wage levels.
Suppose that John Maestro, the owner of a tennis shop in Evanston, Illinois, decides to purchase a new machine that restrings tennis rackets in half the time it formerly took. The new technology costs $1,000 . and the MPC is 0.80 . How much real GDP will be generated from John's $1,000 initial investment?
a. $200 b. $500 c. $1,000 d. $2,000 e. $5,000
If a bank purchases government securities rather than lends funds, the:
a. M2 money supply does not rise. b. M2 money supply rises, but not by as much as when the funds are lent. c. M2 money supply rises by more than would be the case if the funds were lent. d. M2 money supply rises by the same amount as if they were lent.