If McDonald's, Wendy's, and Burger King agree with each other not to sell hamburgers for less than $3.95 apiece, all three could be found guilty of
A) an interlocking directorship under the Clayton Act.
B) price fixing under the Sherman Act.
C) a deceptive business practice under the Clayton Act.
D) None of the above answers is correct.
B
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Refer to Table 19-14. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2016 equals
A) 92.2. B) 102.6. C) 108.5. D) 109.1.
If the per capita income of a country is growing at 3.5 percent per year, approximately how long will it take for that income to double?
a. 20 years b. 25 years c. 35 years d. 70 years
An increase in nominal GDP implies an increase in:
A. either the price level or output or both. B. the price level. C. both the price level and output. D. output.
In a large open economy ________
A) the effect of shifts in saving and investment on the trade balance are in the same direction as in a closed economy B) the effect of shifts in saving and investment on net capital flows are in the same direction as in a closed economy C) the effect of shifts in saving and investment on the domestic real interest rate and the actual levels of saving and investment are in the same direction as in a closed economy D) all of the above E) none of the above