Answer the following statements true (T) or false (F)
1) The Sherman Act was passed in 1914.
2) The Clayton Act was the second major piece of antitrust legislation.
3) The Federal Trade Commission Act and the Sherman Act were passed in the same year.
4) The Antitrust Division of the Department of Justice enforces antitrust laws through both civil and criminal suits.
5) Actions that violate the Sherman Act can result in penalties that total substantially more than $100 million.
1) FALSE
2) TRUE
3) FALSE
4) TRUE
5) TRUE
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Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and reserves account in the context of the Three-Sector-Model? a. The quantity of real loanable funds per time period rises
and reserves account becomes more negative (or less positive). b. The quantity of real loanable funds per time period falls and reserves account remains the same. c. The quantity of real loanable funds per time period and reserves account remain the same. d. The quantity of real loanable funds per time period rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. An $8 per unit price floor will result in a
A. surplus of 2 units. B. surplus of 3 units. C. shortage of 3 units. D. shortage of 1 unit.
Suppose that in Germany, the opportunity cost of producing a gallon of beer is 5 gallons of wine. In Italy, the opportunity cost of producing a gallon of beer is 3 gallons of wine
a. What is the opportunity cost of producing a gallon of wine for Germany? b. What is the opportunity cost of producing a gallon of wine for Italy? c. Which country has a comparative advantage in the production of beer? d. Which country has a comparative advantage in the production of wine?
In Table 17.2, 
A. the United States has an absolute advantage in both goods but a comparative advantage in apples only. B. the United States has an absolute and comparative advantage in both goods. C. Brazil has an absolute advantage in both goods but a comparative advantage in coffee only. D. the United States has an absolute and comparative advantage in apples while, Brazil has an absolute and comparative advantage in coffee.