Chapter 20 Test Review

The unemployment rate measures civilian workforce of the country from age _____ years and older

Which of the following pieces of legislation was the first antitrust law that bans monopolies?

A full business cycle lasts from:

Businesses love the opportunity to sell public goods because everyone is able to use them.

Which of the following is NOT one of the defining traits of a monopoly in business?

What year was the Sherman Antitrust Act implemented?

Raising the price of one good alone greatly affects the value of our money in the economy

Externalities can both positively and negatively affect the economy and society

The second part of a business cycle is known as ________: when Real GDP trends upward.

Which is not commonly cited as a factor of society affecting income inequalities?

What event caused the Great Depression to end?

Which of the following is NOT one of the Stock Market indexes?

At the peak of a business cycle, Real GDP reaches its ______ point, and begins to turn down.

Which of the following is the government agency that enforces the Clayton Act?

The Baton Rouge Water Company is an example of a local ____________.

A full business cycle lasts from trough to trough

The first part of a business cycle is known as the ____________: when Real GDP trends downward.

Which of the following is the best example of a public good?

The Clayton Act clarified the Sherman Act and banned all anti-competitive practices

A healthy economy’s unemployment rate is typically at ____% as compared to 9-10% in a troubled.