Each of the following statements is true except
A. Most of the world's largest corporate mergers took place between American firms.
B. There have been more large mergers in the U.S. in the communications industry than in any other industry.
C. The corporate scandals in recent years were all caused by no more than half a dozen crooks.
D. The most important piece of antitrust legislation is the Sherman Antitrust Act.
C. The corporate scandals in recent years were all caused by no more than half a dozen crooks.
You might also like to view...
Expenditures on education equal about _____ of state and local government financial outlays
a. one quarter b. one third c. one half d. two thirds
A market failure:
A. is a source of inefficiency in an imperfectly competitive economy. B. can always be corrected by government intervention. C. cannot be corrected. D. is a theoretical proposition that has never been proven to exist.
Suppose you believe that plaid flannel shirts are an inferior good, and want to test this with economic data. You expect to find that the income elasticity for plaid flannel shirts is:
A. less than zero. B. close to zero. C. greater than zero, but less than one. D. greater than one.
In the short run where total variable cost is ________ at a(n) ________ rate, marginal cost is positive and decreasing.
A. increasing; decreasing B. decreasing; decreasing C. decreasing; increasing D. increasing; increasing