Under a rule of reason approach, which of the following would be legal in the United States?
a. The merger of two small companies in an unconcentrated market.
b. Price fixing between IBM and Compaq.
c. The merger between Ford and General Motors.
d. Kellogg's and General Mills collude to drive Quaker Oats out of the business.
e. Exxon Oil and Mobil Oil elect the same person to their boards of directors.
a
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The worth of __________ tend(s) to be undervalued in our society
a. Internal exchanges b. Abundance c. Scarcity and risk d. Tangible goods
If the Fed shifts to a more restrictive monetary policy in order to help control inflation, the policy shift will generally
a. stimulate aggregate demand and real output as soon as the policy is instituted. b. reduce aggregate demand immediately and quickly bring the inflation under control. c. reduce aggregate demand and help bring the inflation under control, but the primary effects may not be felt for several months (or quarters). d. lower real interest rates in the short run, but in the long run, real interest rates will rise.
England has a relatively cool and cloudy climate that is ill suited for grape growing. It can produce 200 units of wine for every 400 units of cloth. Portugal, in contrast, has a relatively warm and sunny climate that is good for growing grapes. It can produce 200 units of wine for every 100 units of cloth. Which country has the higher opportunity cost of producing cloth?
A. England: 2 units of wine for every unit of cloth B. England: 1/2 unit of cloth for every unit of wine C. Portugal: 2 units of wine for every unit of cloth D. Portugal: 1/2 unit of wine for every unit of cloth
The balance of trade measures the:
A. difference between the value of imports and that of exports. B. exchange rate needed to make imports equal exports. C. share of U.S. exports going to various regions of the world. D. share of U.S. imports coming from various regions of the world.