The Celler-Kefauver Act of 1950:
A. established the FTC.
B. closed down a loophole in the Clayton Act by outlawing mergers through the purchase of another firm's physical assets.
C. closed down a loophole in the Sherman Act by outlawing mergers through the purchase of another firm's physical assets.
D. banned tying contracts.
Answer: B
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Given the scenario described, if the market price of hammers decreased from $17 to $12:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. A. producer participation in the market would increase. B. producer participation in the market would decrease. C. producer participation in the market would not be affected. D. total producer surplus would remain unchanged.
Suppose a Japanese investor purchases a dollar deposit that yields 5 percent interest at the end of a year. What will be the approximate return in terms of yen at maturity if the exchange rate moves from $1 = ¥100 to $1 = ¥105 during the year?
a. 1 percent b. 5 percent c. 10 percent d. 20 percent e. 0 percent
The criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal or legal within the terms of the Sherman Act is called the
A. Rule of Reason. B. Interstate Commerce Rule. C. Federal Trade Commission Rule. D. Clayton Act Rule.
In long-run monopolistically competitive equilibrium, there can be
A. no economic profits, but losses. B. neither economic profits nor losses. C. economic profits or losses. D. economic profits, but not losses.