The ________ Act extended the government's authority to ban vertical and conglomerate mergers.
A. Celler-Kefauver
B. Federal Trade Commission
C. Clayton
D. Sherman
Answer: A
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If a firm operating in a perfectly competitive industry is confronted with an equilibrium market price of $5, its marginal revenue
A. will be greater than $5. B. will also be $5. C. will be less than $5. D. may be either greater or less than $5.
Prices and wages are considered "sticky" if
A) their rates of increase and decrease are identical. B) as prices increase, wages increase by the same percentage. C) their rates of change are directly connected to the rate of change in unemployment. D) they do not fully adjust to changes in demand and supply.
A mechanism for reallocating risk is:
A. risk premiums. B. dividend pooling. C. diversification. D. All of these are mechanisms for reallocating risk.
The issue with centralized versus decentralized decision making is that
A. it is always easy to find out which is better, but not all may agree. B. centralization is always better because one person controls all information. C. decentralization is always better because many people can split the tasks. D. it is difficult to find out whether one is better than the other in the hierarchy.