The Sherman Antitrust Act of 1890
(a) did not specify what economic actions are legal.
(b) said that only competitive economic actions were legal.
(c) declared illegal every combination in restraint of trade.
(d) declared none of the above.
(d)
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Rebecca can stitch 6 shirts in a day while Eliza can stitch only 5 shirts in a day. Rebecca can stitch 2 trousers in a day while Eliza can stitch 3 trousers in a day. Which of the following is true in this case?
A) Rebecca has a comparative advantage in stitching trousers. B) Eliza has an absolute advantage in stitching trousers. C) Rebecca has an absolute advantage in stitching trousers. D) Eliza has a comparative advantage in stitching shirts.
Average productivity will fall as long as
A) marginal productivity is falling. B) it exceeds marginal productivity. C) it is less than marginal productivity. D) the number of workers is increasing.