The first major piece of antitrust legislation was:
a. Clayton Act.
b. Celler-Kefauver Act.
c. Sherman Antitrust Act.
d. Rockefeller Act.
e. Robinson-Patman Act.
c
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Which of the following observations concerning GDP calculations is true?
a. Goods and services produced by governments are valued at market price. b. Inventories are treated as if they are yet to be sold. c. Goods produced but not sold during the year are counted in that year's GDP. d. Goods that firms add to their inventories do not count in the GDP.
Firms in a trust:
A. act as a single firm. B. act in their own self-interests. C. trust each other. D. do not allow a small number of trustees to make decisions for participating firms.
Which of the following help to correct for the market failure of imperfect information?
A. medical licensing B. truth-in-advertising regulations C. used car warranties D. All of the above are correct.
Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.
Figure 4.4Refer to Figure 4.4. The United States will import 2 million barrels of oil per day if a ________ per barrel tariff is levied on imported oil.
A. $25 B. $50 C. $100 D. $150