Regarding U.S. antitrust activity, the rule of reason was expressed in the
a. Standard Oil case.
b. Robinson-Patman Act.
c. Clayton Act.
d. ALCOA case.
a. Standard Oil case.
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Suppose that the exchange rate between Mexican pesos and dollars is 8 pesos per dollar. If the exchange rate goes to 6 pesos per dollar, it would tend to: a. increase U.S. exports to Mexico
b. decrease U.S. exports to Mexico. c. increase Mexican exports to the rest of the world. d. decrease Mexican exports to the rest of the world.
The total amount of income earned by U.S. resource suppliers in a year, plus taxes on production and imports, is measured by:
a) gross domestic product. b) national income. c) personal income. d) disposable income.
Table 24.1Monopoly Costs and RevenueQuantityPriceTotal Cost1$500$4002$450$6503$400$9504$350$1,3005$300$1,700In Table 24.1, using the profit maximization rule, a monopolist will produce
A. 3 units. B. 5 units. C. 1 unit. D. 4 units.
If the money wage rate increases, then the
A) aggregate supply curve shifts rightward. B) potential GDP increases. C) potential GDP decreases. D) aggregate supply curve shifts leftward. E) aggregate demand curve shifts leftward.