Which of the following would be illegal under the Robinson-Patman Act?
a. Ford and General Motors meet to fix the price of cars.
b. Computer makers form a cartel.
c. General Mills and Kelloggs decide to merge.
d. Exxon sells gas at a higher wholesale price to independent gas retailers than to Exxon retailers
e. Exxon Oil and Mobil Oil elect the same person to their boards of directors.
D
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Which of the following statements is true? a. Federal budget deficits became progressively smaller during the 1990s and turned into a surplus by 1998
b. Federal spending declined relative to GDP, while federal revenues rose relative to GDP during the 1980s. c. Functional finance says that policy makers should be concerned less with the economy's potential output and more with balancing the budget annually. d. A disadvantage of functional finance is that it increases the level of unemployment during recessions. e. A disadvantage of annual financed budget is that it dampens swings in the business cycle without increasing the national debt.
Many of the new pollutants to which the world has been subjected are
A. more visible to the naked eye. B. less malodorous and less visible. C. less dangerous due to new environmental regulations. D. pose less health risks.
Which of the following has occurred for the United States since 1960?
A) The ratio of exports to GDP (X/Y) and the ratio of imports to GDP (IM/Y) have both decreased. B) X/Y has increased while IM/Y has decreased. C) X/Y has decreased and IM/Y has increased. D) X/Y and IM/Y have stayed relatively constant. E) none of the above
Lydia was born with an aptitude for composing music. This aptitude is an example of
A. property. B. natural capital. C. human capital. D. a compensating differential.