Which of the following does not necessarily violate antitrust laws?
A. Deceptive advertising
B. Price discrimination
C. Price fixing
D. Interlocking directorates
B. Price discrimination
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Looking at the average tariff rate in the United States since 1930, we see that
A) tariffs have trended downward for most of the period. B) tariffs were made illegal in the United States in 1955. C) tariff levels have remained high, at over 50 percent throughout the period. D) while we talk about free trade, tariff levels have risen over the last 30 years. E) at first tariffs declined, but have recently risen.
Though large firms have the knowledge and resources to utilize a better pricing strategy, many choose to use cost-plus pricing. One reason for this is that
A) large firms do not have to maximize their profits because they face little competition from other firms. B) firms often adjust the markup they charge to reflect current demand. C) there is less risk of violating antitrust laws if a cost-plus pricing strategy is used rather than a profit-maximizing pricing strategy. D) the additional revenue that would result from a profit-maximizing pricing strategy is an insignificant fraction of the firms' revenues.
A business cycle expansion increases income, causing money demand to ________ and interest rates to ________, everything else held constant
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
Show or explain the externality argument for government regulation of the environment. Describe a policy the government could adopt that would reduce pollution, but not require estimation of the optimal pollution tax