Which of the following organizations is exempt from prosecution under the Sherman Antitrust Act (1890)?
A. television stations
B. labor unions
C. book publishers
D. retailers
Answer: B
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The government collects tax revenue of $100 million and has $105 million in outlays. The budget balance is a
A) surplus of $5 million. B) deficit of $5 million. C) surplus of $105 million. D) deficit of $105 million. E) surplus of $100 million and a deficit of $105 million.
Suppose that there is a positive aggregate demand shock and the central bank commits to an inflation rate target. But if the commitment is not credible, then
A) the public's expected inflation will remain unchanged. B) the short-run aggregate supply curve will rise. C) over time inflation will fall back down to the inflation target. D) all of the above. E) both A and B.
A Lorenz curve measures the ________ on the horizontal axis
A) cumulative percentage of family income B) cumulative percentage of family wealth C) cumulative percentage of families D) demand of families on welfare
A university offers a free shuttle service around campus. The opportunity cost of the shuttle service to the university is equal to: a. zero, since it is free to students who want to ride
b. the wages paid to the shuttle drivers. c. the wages paid to the shuttle drivers, plus the gasoline expenses. d. the highest valued alternative use of the resources devoted to the shuttle program.