The Sherman Act prohibits:
a. contracts in restraint of commerce
b. monopolization of an industry
c. price discrimination
d. a and b
e. a, b, and c
d
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In the United States, the productive factor that, as a group, receives the largest fraction of the nation's total income is
A) labor. B) consumption goods and services. C) land. D) entrepreneurshi
A consumer has $1,000 a week to spend on renting square feet of housing (at a price of $5 per square foot) and eating out (at a price of $20 per meal). With square feet of housing on the horizontal and meals on the vertical axis, what is the vertical intercept and what is the slope of this consumer's budget constraint?
What will be an ideal response?
In an open economy with floating exchange rates, monetary policy is most effective at increasing real income if
A) capital mobility is high. B) capital mobility is low. C) capital mobility is perfect. D) monetary policy is ineffective with floating exchange rates.
Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand of 1.2 indicates an:
A. elastic demand, meaning the percentage change in quantity demanded will be greater than the percentage change in price. B. inelastic demand, meaning the percentage change in quantity demanded will be greater than the percentage change in price. C. elastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price. D. inelastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price.