Explain why it was necessary to pass the Clayton Act when the Sherman Act had already addressed the antitrust issue.
What will be an ideal response?
The Sherman Act did not specify which business practices were illegal, and thus led to conflicting court rulings. The Clayton Act was passed to resolve the ambiguities of the Sherman Act by enumerating the specific practices that were illegal.
You might also like to view...
All of the following statements are examples of normative economic analysis except
A) as the demand for emergency room nurses increases, more students are choosing to enroll in nursing school. B) to provide better care, doctors should be required to limit the number of patients they see each day. C) people should be able to choose whether they want to purchase health insurance. D) prescription drugs are too expensive and the government needs to regulate prices in the pharmaceutical industry.
Floods in the Midwest that diminish farm output would shift the aggregate supply curve outward
a. True b. False Indicate whether the statement is true or false
State and local government spending has _______________ during the last four decades.
a. decreased b. remained flat c. increased d. stabilized
If the current allocation of resources in the market for wallpaper is efficient, then it must be the case that
a. producer surplus equals consumer surplus in the market for wallpaper. b. the market for wallpaper is in equilibrium. c. on the last unit of wallpaper that was produced and sold, the value to buyers exceeded the cost to sellers. d. All of the above are correct.