In which antitrust case did the Supreme Court begin to apply the per se rule to determine whether a firm was in violation of the Sherman Antitrust Act?
A. The Standard Oil case.
B. The Alcoa case.
C. The IBM case.
D. The MIT case.
Answer: B
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Refer to Figure 2-5. If the economy is currently producing at point X, what is the opportunity cost of moving to point W?
A) 19 million tons of steel B) 5 million tons of paper C) 9 million tons of paper D) 3 million tons of steel
To reduce moral hazard, a firm may
A) pay workers at a piece rate. B) offer a year-end bonus if firm profits are up. C) offer stock options. D) All of the above.
Which of the following is often referred to as the basic postulate of economics?
What will be an ideal response?
In the ten years after the FDIC limit was increased to $100,000:
A. less than one-fourth the number of banks and savings and loans failed than during the first 46 years of FDIC's existence. B. increasing the deposit insurance limit to $250,000 provided complete coverage for all deposits except those of large corporations. C. the cost to taxpayers of failed institutions in that period was negligible because FDIC was in place. D. more than four times the number of banks and savings and loans failed than did during the first 46 years of FDIC's existence.