The first antitrust law that the U.S. Congress enacted was
A. the Robinson-Patman Act.
B. the Clayton Antitrust Act.
C. the Federal Trade Commission Act.
D. the Sherman Antitrust Act.
Answer: D
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Technical progress will:
a. shift a firm's production function and its related cost curves. b. not affect the production function, but may shift cost curves. c. shift a firm's production function and alter its marginal revenue curve. d. shift a firm's production function and cause more capital (and less labor) to be hired.
Some economists believe that permanently lower marginal income tax rates __________ the incentive to work and thus shift the __________
A) increase; LRAS curve to the right B) increase; AD curve to the right C) increase; SRAS curve to the left D) decrease; LRAS curve to the right E) decrease; AD curve to the left