Scherer (1970) provides which of the following argument(s) to explain the appearance of antitrust laws?
(a) Many farmers believed that the growth of big business came at the expense of growth in agriculture.
(b) Many ordinary individuals with moderate or low incomes were envious of the fame
and wealth accumulated by the relatively few industrial entrepreneurs.
(c) Falling costs in transportation resulted in growth of the optimal size of the firm.
(d) All of the above.
(d)
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Explain how a reduction in the unemployment rate will affect bargaining power and nominal wages
What will be an ideal response?
The evidence from wage data allows us to conclude that nonsupervisory workers were economically worse off in 2008 than 1975
a. This conclusion is correct because such workers have been suffering form increasing unemployment since 1975 b. This conclusion is correct because such workers have been receiving an ever-decreasing share of their income in nonwage benefits. c. This conclusion is correct because nominal wages for such workers have stayed constant since 1975. d. This conclusion is correct because nominal wages for such workers have fallen since 1975. e. This is a mistaken conclusion because the CPI overstates inflation.