Which act of Congress declared tying contracts, exclusive dealing, and price discrimination illegal?
A. Celler-Kefauver Act.
B. Sherman Antitrust Act.
C. Clayton Act.
D. Robinson-Patman Act.
Answer: C
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A single-price monopolist maximizes profits by producing the output at which
A) price equals marginal cost. B) price equals marginal revenue. C) marginal revenue equals marginal cost. D) marginal cost equals average cost.
Suppose a hefty rise in the demand for Mexican pesos create a chronic shortage of this currency in the foreign exchange market. Which of the following steps should be adopted by the Mexican government to eliminate this shortage?
a. The government should impose a ban on Mexican exports. b. The government should devalue the peso. c. The government should print more pesos to increase its supply. d. The government should allow the peso to appreciate. e. The government should allow the peso to depreciate.
Which of the following statements about the FDIC is untrue?
a. The FDIC conducts bank audits and examinations. b. The FDIC helps prevent bank failures. c. The FDIC is owned by member banks. d. The FDIC provides demand deposit insurance for participating banks. e. The FDIC was created in 1933.
The greater the area between the Lorenz curve and the diagonal line of absolute equality, the more inequality exists.
Answer the following statement true (T) or false (F)