The 1890 Sherman Act was legislated by the:
A. Food and Drug Administration (FDA).
B. Securities and Exchange Board (SEC).
C. Federal Trade Commission (FTC).
D. Environment Protection Agency (EPA).
Answer: C
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If we compare the CPI to a perfect cost of living index, we find that they are
A) different because the CPI does not measure prices. B) the same thing. C) not the same because the CPI has a fixed reference base period. D) different because the CPI uses a fixed basket and has some measurement difficulties. E) different because the cost of living has nothing to do with prices.
A monopoly is
A) a price taker. B) able to ignore the demand for its product when setting its price. C) able to set the price for its product. D) able to earn only a normal profit in the long run. E) a firm with no marginal revenue curve.
The increase in speed and power of personal computers over the past fifteen years has been phenomenal. Such technological change, with the old being ever more quickly replaced by the new, suggests growing ________ in ________ investment
A) instability, net B) instability, net and gross C) instability, gross D) stability, net and gross E) stability, net
The Federal Reserve System is owned by the U.S. Department of the Treasury
Indicate whether the statement is true or false