Some antitrust laws address situations involving _______________, where even though there are no outright agreements to control prices or production, the result might still be to reduce competition.
a. restrictive practices
b. mergers and acquisitions
c. price wars
d. union contracts
a. restrictive practices
Antitrust law includes rules against restrictive practices—practices that do not involve outright agreements to raise prices or to reduce the quantity produced, but that might have the effect of reducing competition.
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The population is 1,000 million, the labor force is 750 million, and the number of unemployed is 30 million. What is the unemployment rate?
A) 4 percent B) 3 percent C) 10 percent D) 7.5 percent
Refer to Table 16.2. Nominal GDP for Fredonia for 2015 equals
A) $2,750. B) $3,500. C) $4,325. D) $5,500.
Refer to Scenario 17.3. Moral hazard arises in this situation because once the firm
A) pays the premium that is based on the 0.001 probability, it has no incentive to spend the additional $80 for the fire protection program, so the true probability of loss is no longer 0.001. B) pays the premium that is based on the 0.01 probability, it has no incentive to spend the additional $80 for the fire protection program, so the true probability of loss is no longer 0.01. C) puts the fire protection program in place, it has less incentive to spend $300 for a premium, leaving the firm underinsured. D) puts the fire protection program in place, it has less incentive to spend $6,000 for a premium, leaving the firm underinsured. E) puts the fire protection program in place, it will consider that a substitute for insurance and not be able to deal with the loss from a fire should it occur.
Which of the following properties should a commodity have to be considered as money?
a. It should be scarce and rare. b. It should be perishable. c. It should be indivisible. d. It should be unpredictable in value. e. It should be homogenous in nature.