Under the Clayton Act,
a. the same person cannot sits on the boards of directors of competing corporations
b. mergers are illegal
c. price discrimination is illegal
d. monopoly is illegal
e. the Sherman Act was repealed
A
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If a bank has excess reserves of $7,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 15 percent, then the bank has actual reserves of
A) $17,000. B) $22,000. C) $27,000. D) $29,000.
If three firms of similar sizes join to form a cartel, then it is most likely that
A. all three firms will stop producing. B. they will collectively produce more than before. C. all three firms will earn zero profits. D. they will charge a common, higher market price.
An efficiency wage
A) is higher than the market wage and tends to increase productivity. B) is lower than the market wage and tends to increase productivity. C) is higher than the market wage and tends to decrease productivity. D) is lower than the market wage and tends to decrease productivity.
Refer to Figure 17-6. Which of the following statements about Scheme II is false?
A) It is likely to draw highly productive workers who see the opportunity to increase their wages. B) It allows workers to increase their monthly wage without penalizing those who are content with their monthly wage. C) It is more risky for senior employees. D) It could discourage less productive workers and induce them to leave the firm.