The "rule of reason" was formulated in the
A. Standard Oil case of 1911.
B. U.S. Steel case of 1920.
C. ALCOA case of 1945.
D. XEROX case of 1973
A. Standard Oil case of 1911.
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Government institutions that protect the rights of individuals are ______
a. the executive, legislative, and judicial branches of government b. federal, state, and local governments c. federal agencies such as OSHA, FEC, and the FCC d. police, military branches, and the court system
Which of the following will be an obstacle to oligopolistic collusion in a market?
a. government regulations restricting entry b. a relatively small number of oligopolistic firms c. unstable demand conditions d. uniform products
The money supply will grow faster through deposit creation when the required reserve ratio is:
A. high and banks hold excess reserves. B. high and banks cannot find good customers to lend to. C. low and banks are able to lend out all of their excess reserves. D. low and banks are unable to loan out all of their excess reserves.
In the figure above, suppose that Mac and Izzie trade and reach point c. Then
A) Mac produces outside his production possibilities frontier. B) Izzie produces outside her production possibilities frontier. C) Mac and Izzie both produce outside their production possibilities frontiers. D) neither Mac nor Izzie produce outside their production possibilities frontiers.