The Sherman Act
A) prohibited banks from crossing states lines.
B) prohibited railroads from transporting explosives.
C) provided for the regulation of natural monopolies.
D) declared that monopolization and restraint of trade were illegal.
D
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In economics, the main difference between market and government stems from differences in
A) attitude. B) prevailing property rights. C) competition and cooperation. D) men and women. E) the majority and the minority.
National income =
A) Consumption - Saving +Taxes B) Consumption - Saving - Taxes C) Consumption + Saving + Taxes D) Consumption + Saving - Taxes
Richard Baldwin's estimate was that the euro increased the trade level of its users by
A) only 5 percent. B) only 9 percent. C) over 30 percent. D) over 50 percent. E) only 12 percent.
The phrase "price-taker" means
A) that market price is independent of the output of a single firm. B) each firm faces a perfectly elastic demand curve. C) that price and marginal revenue are the same. D) all of these choices.