The Celler-Kefauver Act of 1950 amended the:
a. Sherman Act.
b. Clayton Act.
c. Federal Trade Commission Act.
d. Wagner Act.
QUESTION 2Which of the following does not contribute to labor productivity growth?
a. A steepening of the per-worker production function
b. An increase in the amount of capital per unit of labor
c. A growth in the labor force
d. An improvement in the quality of capital
e. A decrease in the laborcapital ratio
QUESTION 3Commitments to make or receive payments in the future are made easier by money's function as a _____.
a. unit of account
b. store of value
c. medium of exchange
d. form of barter
e. commodity
QUESTION 4A water bottle manufacturing plant uses a three-step procedure to produce each unit of bottle. The first step is casting, which needs 35 workers to operate the furnace. The second step is quenching, which needs 35 workers. At the third step, bottles are prepared for dispatch in the assembly line with the help of 70 workers. If the factory produces 14,000 bottles per day, then the productivity of labor in the factory is equal to _____.
a. 200 bottles per worker
b. 400 bottles per worker
c. 100 bottles per worker
d. 140 bottles per worker
e. 220 bottles per worker
QUESTION 5The Celler-Kefauver Act of 1950:
a. amended the Sherman Act to outlaw price fixing where the effect is to lessen competition.
b. created the Interstate Commerce Commission.
c. prohibited conglomerate mergers where the effect is to lessen competition.
d. prohibited a firm from acquiring the assets of another firm where the effect is to lessen competition.
QUESTION 6Suppose an ocean liner sinks and the passengers are stranded on a lush tropical island. Which of the following could most likely be used as money in the economy that develops among the survivors?
a. The life jackets they put on when leaving the ship
b. The beads from the necklaces that were given out as party favors on the night the ship sank
c. The coconuts growing on the island
d. The fish in the sea around the island
e. The sand on the island's beaches
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