Which of the following declared monopoly and trade restraints illegal?
A. the Cellar-Kefauver Act
B. the Clayton Act
C. the Sherman Act
D. the Federal Trade Commission Act
Answer: C
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When the Federal Reserve decreases the money supply, at the previous equilibrium interest rate households and firms will now want to
A) sell Treasury bills. B) hold less money. C) neither buy nor sell Treasury bills. D) buy Treasury bills.
Most transactions in the foreign exchange market are for ______________.
a. portfolio investments b. tourists c. businesses d. foreign direct investments
The standard discussion of monetary policy is based on the assumption that the:
A. entire yield curve shifts up when the Fed sells government bonds. B. yield curve becomes steeper when the Fed buys government bonds. C. entire yield curve shifts down when the Fed sells government bonds. D. yield curve becomes inverted when the Fed buys government bonds.
In the long run, the Phillips curve will be ________ at the natural rate of unemployment if the long-run aggregate supply curve is vertical at potential output.
A. positively sloped B. vertical C. negatively sloped D. horizontal