In 1961, seven companies in the ___________ industry were found guilty by the Supreme Court of illegal price-fixing and market-sharing agreements.

Which of the following can a firm do in the long run but not in the short run?

A) decrease the size of its physical plant B) reduce its rate of output by laying off workers C) increase its use of raw materials D) increase its variable costs

During the 1915–1919 fiscal years, income tax revenues comprised approximately 53% of total federal revenues. Today, over 80% of total tax revenues are raised through income taxes

Indicate whether the statement is true or false