For decades, the NCAA restricted the number of college football and basketball games that could be televised, and in 1982 the University of Georgia and the University of Oklahoma sued the NCAA under the federal antitrust laws
In 1984, the Supreme Court decided the case
A) against the NCAA, citing anticompetitive practice.
B) against the NCAA, citing that the NCAA did not control what television networks put on the air.
C) for the NCAA, citing the fact that belonging to the NCAA was voluntary.
D) against the NCAA, citing explicit collusion among the larger colleges.
A
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If two goods are complements, their cross elasticity of demand will normally be
A. zero. B. a negative number. C. a positive number. D. infinity.
If exchange rates are perfectly flexible, an expansionary U.S. monetary policy will
a. increase the supply of dollars in the foreign exchange market. b. shift the LM curve to the right. c. reduce the demand for dollars in the foreign exchange market. d. reduce the value of the dollar. e. all of the above.
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then maximum profit
A) equals $336. B) equals $882. C) equals $1,218. D) cannot be determined solely from the information provided.
New classical economists advocate less government intervention than the new Keynesian school of thought
a. True b. False Indicate whether the statement is true or false