In the 1945 ALCOA case, the court used company performance rather than the structure of the market to determine whether the company was in violation of antitrust laws.
Answer the following statement true (T) or false (F)
False
The ALCOA case marked the point at which courts changed the criterion from performance to structure.
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Dana, a recent graduate with a degree in economics, turned down a job offer paying $50,000 a year and instead chose to become an entrepreneur. He borrowed $15,000 from a bank at a 10 percent interest rate and that was sufficient to pay for all his equipment, materials, and labor. Dana's accountant told him that the business generated a total revenue of $70,000 in the first year. How much of a
return on his entrepreneurial ability did Dana earn? a. $7,000 b. $20,000 c. $18,500 d. $50,000 e. $70,000
A shift from AS1 to AS2 would be consistent with what economic event in U.S. history?
Refer to the graph above.
A. Demand-pull inflation in the late 1960s
B. Cost-push inflation in the mid-1970s
C. Full-employment in the late 1990s
D. Great Recession in 2007-2009