The unemployment rate rises any time there is an increase in the number of unemployed persons.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 2The first major piece of antitrust legislation was:
a. Clayton Act.
b. Celler-Kefauver Act.
c. Sherman Antitrust Act.
d. Rockefeller Act.
e. Robinson-Patman Act.
QUESTION 3If a budget is cyclically balanced, the government should run a surplus when the economy experiences an expansionary gap.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 4A major cost of unemployment is lost production.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 5In order to obtain a conviction for price fixing under the Sherman Antitrust Act, the government needs to prove:
a. only that an attempt to fix prices was made.
b. that there was a price-fixing agreement that actually lessened competition.
c. that there was a high concentration ratio for the industry.
d. all of these.
QUESTION 6If a budget is cyclically balanced, the government should run a surplus when the economy experiences a contractionary gap.
a. True
b. False
Indicate whether the statement is true or false
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