The Clayton Act is an antitrust law that was passed to
A) outlaw monopolization.
B) prohibit charging buyers different prices if the result would reduce competition.
C) address loopholes in the Sherman Act.
D) toughen restrictions on mergers by prohibiting mergers that reduce competition.
C
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Suppose the exchange rate between the U.S. dollar and the French franc is 0.25 francs per dollar. If a television sells for 100 francs in France, what is the dollar price of the television set?
A) $400 B) $25 C) $50 D) $200
The WTO seems at times to be interfering in domestic policy since
A) the line between domestic policies and de factor protectionism is often fuzzy. B) it is a supra-national organization with the power to overturn governments. C) it determines which nations may trade what with whom. D) it punishes naughty nations. E) it exempts the U.S. and other powerful member nations from many of its edicts.
Critics argue that a disadvantage of minimum-wage laws is that they do not effectively target the working poor because many minimum-wage workers are the teenage children of middle-income families
a. True b. False Indicate whether the statement is true or false
Recall the Application about the impact tariffs have on lower income households to answer the following question(s). Economists have found that tariffs in the United States fall most heavily on lower-income consumers. In the United States, tariffs are very high on textiles, apparel items and footwear, and within these categories the highest tariffs fall on the cheapest products. In general, to protect U.S. industries, tariffs are highest on labor-intensive goods.If the tariffs on textiles, apparel items, and footwear mentioned in the Application were replaced by equivalent voluntary export restraints (VERs), who would benefit the most?
A. low-income consumers B. high-income consumers C. the U.S. government D. the foreign manufacturer