Which antitrust act was passed to protect independent retailers from "unfair discrimination" by chain stores?
A. Wheeler-Lea Act
B. Sherman Act
C. Federal Trade Commission Act
D. Robinson-Patman Act
Answer: D
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Which of the following statements is true?
A) Optimization requires individuals to foresee the future perfectly. B) An optimizing individual need not consider the risks involved in various choices. C) An optimizing individual is also likely to exhibit rationality. D) The less information that is available, the easier it is to make optimal decisions.
According to the principle of asset valuation, the value of any asset is equal to
a. the sum of all the future benefits it generates b. the revenue it generates during its first year c. the sum of the present values of all the future net benefits it generates d. the ratio of its final year's benefits to its price e. the sum of all future benefits it generates minus its price
If for some reason Americans desired to increase their purchases of foreign assets, then other things the same
a. both the real exchange rate and the quantity of dollars exchanged in the market for foreign-currency exchange would fall. b. both the real exchange rate and the quantity of dollars exchanged in the market for foreign-currency would rise. c. the real exchange rate would rise and the quantity of dollars exchanged in the market for foreign-currency would fall. d. the real exchange rate would fall and the quantity of dollars exchanged in the market for foreign-currency would rise.
Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. When Leo's earnings are less than $300, each extra dollar he earns causes his total income (earnings plus benefits) to:
A. fall by 50 cents. B. fall by 25 cents. C. rise by 50 cents. D. rise by 75 cents.