If a person can prove that she was damaged by an illegal arrangement to restrain trade, that person can sue and recover
a. the damages she sustained, as provided for in the Sherman Act.
b. the damages she sustained, as provided for in the Clayton Act.
c. three times the damages she sustained, as provided for in the Sherman Act.
d. three times the damages she sustained, as provided for in the Clayton Act.
d
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Demand for a product is given by Q = 100 - P and supply is given by Q = P - 10. If the quantity demanded rises by 10 units at every possible price, then the equilibrium price will
a. increase by $5 b. increase by $10 c. decrease by $5 d. increase by $7.50
The antitrust legislation that was designed to help small stores survive competition with large retail chains was the:
a. FTC Act. b. Sherman Antitrust Act. c. Celler-Kefauver Act. d. Robinson-Patman Act. e. Clayton Act.
If the elasticity of supply coefficient for a good is 6, we know:
a. that for every 1% increase in quantity, there will be a 6% increase in price. b. that for every 1% increase in quantity, there will be a 6% decrease in price. c. that for every 6% increase in quantity, there will be a 1% increase in price. d. that for every 6% increase in quantity, there will be a 1% decrease in price.
According to mainstream economists the basic determinant of real output, employment, and the price level is:
A. Information and people's expectations B. The level of aggregate expenditures C. The incentive to work, save, and invest D. The supply of money