Which law specifically mandated the federal government's responsibility for economy-wide stability?
A) the Employment Act of 1946
B) the Sherman Act of 1890
C) the Great Depression Act of 1930
D) the Miller Act of 1960
A
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The profit earned by a monopolistic competitor after the entry of new firms is ________
A) higher than the profit earned by the firm before the entry of new firms B) lower than the profit earned by the firm before the entry of new firms C) equal to the profit earned by a monopolist in the long run D) higher than the profit earned by a perfect competitor in the long run
________ motivates charitable giving because of selfish reasons, such as the appearance of generosity
A) Pure altruism B) Impure altruism C) Consumerism D) Rationalism
In order for Say's law to hold in a money economy,
A) there must be more than four goods. B) funds saved must give rise to an equal amount of funds earned. C) funds saved must give rise to an equal amount of funds invested. D) none of the above
Public choice theorists assert that persons who change jobs from, say, a government position to a business position, sometimes alter their work behavior and attitudes because
A) they want to fit in and be liked by their fellow workers. B) they are acting rationally by weighing the costs and benefits of certain behavior in different work settings. C) they feel that if they change jobs, they should also change their behavior. D) their new boss tells them it is in their best interest.