In the last 40 years, merger policy has become a major way for antitrust authorities to regulate market structure
Indicate whether the statement is true or false
T Issuance by the Department of Justice of merger guidelines in 1968, followed by passage of the Hart-Scott-Rodino Act of 1976 that required firms to notify the government before large mergers, allowed antitrust authorities to evaluate mergers before they occurred, and avoid mergers that would raise serious market structure questions.
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Economics is best defined as the study of
A) financial decision-making. B) inflation, unemployment, and economic growth. C) the choices made by people faced with scarcity. D) how consumers make purchasing decisions.
With regard to education of freed slaves after the Civil War (1861–1865),
(a) there was a rapid rise of literacy. (b) Southern public schools were "separate, but equal." (c) most had received no education under slavery and were illiterate. (d) all of the above are true.
If bundle A lies on an indifference curve and bundle B lies to the right of the curve, the individual
a. prefers bundle A to bundle B. b. prefers bundle B to bundle A. c. enjoys bundle A and B equally. d. must receive more of both—with bundle B.
Many state lotteries have advertised "instant millionaire" lottery games. However, if one wins the game, the state does not write a check for a million dollars. Rather it pays $50,000 a year for 20 years. Using the tables shown and assuming the interest rate is 4, which of the following statements must be true?Annuity Table(value now of $1 Per year To be received for x-years) Present Value Table(Value now to $1 to be received x-years un the future) Year3%4%6%Year3%4%6%108.538.117.36100.740.680.531511.9411.129.71150.640.560.422014.8813.5911.47200.550.460.313019.6017.2913.76300.410.310.17
A. If the winner invests his annual payout, at the end of 20 years he will have a lot more than a million dollars. Hence the state is understating the winnings when it advertises these games as "instant millionaire." B. The true value of winning is much less than a million. The state has misrepresented the true value of the payout. C. The state does not care whether it gives a million as a lump sum or spread over 20 years. D. Since the winner will be given actually a million dollars over 20 years, the state is correct in advertising these games as "instant millionaire."