Which of the following acts prohibits directors of one company from sitting on the board of a competitor?
A. Sherman Act
B. Federal Trade Commission Act
C. Robinson-Patman Act
D. Clayton Act
Answer: D
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Paint and paintbrushes are complements. If the price of paint increases, then
A) the demand for paintbrushes will increase. B) the demand for paintbrushes will decrease. C) the demand for paint will increase. D) the demand for paint will decrease.
Normative economics concerns
a. analysis of social and economic norms b. statements of fact c. the analysis of what is d. the study of what ought to be e. value-free judgments
Coins and paper money are:
A. credits of commercial banks and savings institutions. B. debts of the federal government and government agencies. C. credits of the federal government and government agencies. D. debts of commercial banks and savings institutions.
Adverse selection is most likely to be a problem when:
A. the good being exchanged has negative externalities. B. there are public goods involved. C. one side of the market, either buyer or seller, has better information than the other side. D. the good being exchanged has free rider problems.