The first antitrust act in the U.S. was the
A. Federal Trade Commission Act.
B. Clayton Act.
C. Cartels Legislation Act.
D. Sherman Act.
Answer: D
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The quantity of money people want to hold increases if
A) the price level falls. B) the nominal interest rate rises. C) real GDP increases. D) All of the above answers are correct.
Under the new Constitution in 1789, the states gained the sovereign power to
(a) levy taxes. (b) power and issue money. (c) "regulate" the value of money. (d) create corporations by special franchise.
Regulation
A) always increases consumer surplus. B) passes the cost-benefit test. C) solves market failures of all size. D) None of the above.
The two major curves or lines in the TE-TP diagram are:
A) the total expenditure curve and the 45-degree line. B) the supply and demand curves. C) the total expenditures and national income curves. D) the total production and national income curves.