What is the Sherman Act and what is its purpose?
What will be an ideal response?
The Sherman Act of 1890 was the first major piece of federal antitrust legislation. It prohibits two things. First, it prohibits any combination, trust, or conspiracy to restrict interstate or international trade. Second, it prohibits monopolization or any attempt to monopolize interstate or international trade.
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The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for cod, a common resource. A quota to prevent the overuse of the cod sets the catch equal to ________
A) 0 tons per week B) 300 tons per week C) 400 tons per week D) None of the above answers is correct.
How is a budget line similar to a production possibilities frontier? How do they differ?
What will be an ideal response?
What are the five major channels, which developing countries use to finance their external deficit?
What will be an ideal response?
If a U.S. company buys an electrical generator made in Japan by a Japanese firm, and the Japanese firm uses the payment to buy stocks issued by a U.S. company then
a. U.S. exports and U.S imports increase. b. U.S. exports but not U.S. imports increase. c. U.S. imports but not U.S. exports increase. d. neither U.S. exports nor U.S. imports increase.