Which of the following prohibits executives of competing firms from even talking about fixing prices?
a. Sherman Act
b. Clayton Act
c. Federal Trade Commission
d. U.S. Justice Department
a
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The price of a Treasury bond futures contract is set
A) by the federal government. B) by the Chicago Board of Trade. C) by the Federal Reserve. D) as a result of bidding and offering by market participants.
Which of the following is most likely to be a monopolistically competitive firm?
A) smart phone producer B) cell phone service provider C) college textbook publisher D) computer software maker
Estimates of the overstatement of cost of living by the CPI suggest the magnitude of the overstatement is roughly
A. 0.1 percentage points. B. 0.3 percentage points. C. 5.0 percentage points. D. 1.0 percentage points.
GDP tends to overstate economic well-being because it takes into account ________.
A. all of the illegal activities conducted by organized crime in the economy B. total spending to deal with the adverse health effects of some products C. the personal labor time that car owners spend working on car repairs and maintenance of their vehicles D. spending on intermediate goods that are used to produce final goods