The Sherman Antitrust Act of 1890 was not well understood because
(a) skilled lawyers were not involved in its creation.
(b) judges were mainly political hacks and therefore were unable to follow the logic of the Act.
(c) vested interests had been allowed too much influence in drafting the legislation.
(d) the purpose of the legislation was not sufficiently clear when it was drafted.
(d)
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Suppose that your public library charges a fixed monthly membership fee of $12. Members are allowed to check out as many books as they want under this plan. The average member checks out 4 books per month
Suppose that your public library changes its policy. Now each book costs $3 to check out but there is no longer a monthly membership fee. What effect do you think the new policy will have on the total number of books checked out from your library each month? The new policy is likely to ______the number of booked checked out because ________. A) reduce; the marginal benefit of checking out books is now lower under the new policy B) increase; the average benefit of checking out more than 4 books is now higher under the new policy C) reduce; the marginal cost of checking out books is now higher under the new policy D) leave unchanged; members have already shown that they are willing to pay $12 to check out 4 books per month E) leave unchanged; the average cost of the library service is the same under both plans
Which of the following factors could start a demand-pull inflation?
A) an increase in the money wage rate B) an increase in tax rates C) a decrease in the money wage rate D) a decrease in government expenditure E) an increase in the quantity of money