What are the main features of the Hart-Scott-Rodino Act?
What will be an ideal response?
The Hart-Scott-Rodino Act extended antitrust legislation to partnerships and sole proprietorships.
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Which of the following is not a limitation of the survivor technique for measuring the optimum size of firms within an industry?
a. since the technique does not employ actual cost data in the analysis, there is no way to assess the magnitude of the cost differentials between firms of varying size and efficiency. b. the managerial and entrepreneurial aspects of the production process are not included in the analysis c. because of legal factors, the long-run cost curve derived by this technique may be distorted and may not measure the cost curve postulated in economic theory d. a and b e. b and c
The worst remedy for curing the U.S. trade deficit is to
a. increase U.S. personal saving. b. reduce the budget deficit. c. encourage all nations to lower trade barriers. d. limit imports by imposing tariffs, quotas, and other trade restrictions.
The study of economics is basically about what two things?
The demand for ice cream is ________ than is the demand for frozen treats because ________.
A. more price elastic; the scope of the market for ice cream is less broadly defined B. more price elastic; ice cream requires a smaller portion of one's income C. less price elastic; the scope of the market for ice cream is less broadly defined D. less price elastic; ice cream requires a smaller portion of one's income