In the Microsoft antitrust case, a federal court ruled to break up the company on the basis of the:
A. size of the corporation.
B. firm's effect on the stock market.
C. firm's large market share.
D. firm's market behavior.
Answer: D
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Last year in a nation to the south, net domestic product at factor cost equaled $3,300 billion
Indirect taxes minus subsidies equaled $200 billion, depreciation equaled $800 billion, the statistical discrepancy equaled zero, and net operating surplus equaled $150 billion. The country's GDP was A) $2,300 billion. B) $3,500 billion. C) $4,300 billion. D) $4,450 billion. E) $4,150 billion.
A country will realize no gains from trade if
A) pre-trade and free-trade relative prices are identical. B) all countries employ the same technology. C) it does not have an absolute advantage in at least one good. D) its wage exceeds the world average. E) pre-trade and free-trade relative prices are not identical.
When a firm practices perfect price discrimination,
a. The demand curve is very inelastic b. The demand curve is the marginal revenue curve c. The demand curve is very elastic d. The marginal cost curve is the average cost curve
Suppose inflation is a threat because the current aggregate demand curve will increase by $600 billion at any price level. If the marginal propensity to consume is 0.75, federal policymakers can follow Keynesian economics and restrain inflation by:
a. decreasing tax revenues by $600 billion. b. decreasing government spending by $200 billion. c. increasing tax revenues by $200 billion. d. increasing government purchases by $150 billion.