Which act of Congress extended the government's authority to block horizontal and vertical mergers?
a. Clayton Act.
b. Sherman Antitrust Act.
c. Celler-Kefauver Act.
d. Robinson-Patman Act.
c
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A Nash equilibrium is:
A. an outcome in which all players choose the best strategy they can, given the choices made by all of the other players. B. when one strategy is always the best for a player to choose, regardless of what other players do. C. an outcome in which all players follow a "leader" in order to maximize profits. D. None of these statements is true.
The rational expectations theory indicates that expansionary policy will
a. stimulate real output in the long run but not in the short run. b. expand real output and employment if the public quickly anticipates the effects of the expansionary policy. c. equalize real and nominal interest rates during lengthy periods of inflation. d. fail to increase employment because individuals will anticipate it and take actions that will offset its impact.
The name given to the fraction of deposits that a bank is legally required to hold in its vault, or as deposits at the Fed, is __________.
A. Assets B. Assets + a bank's liabilities C. Capital D. Required reserves
If the price elasticity of supply is elastic, which of the following could be a possible value of the elasticity?
A. 3 B. 1 C. 0.3 D. 0