Explain why it was necessary to pass the Clayton Act when the Sherman Act had already addressed the antitrust issue.
What will be an ideal response?
The Sherman Act did not specify which business practices were illegal, and thus led to conflicting court rulings. The Clayton Act was passed to resolve the ambiguities of the Sherman Act by enumerating the specific practices that were illegal.
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The economy could produce at 8 units of outboard motors and 18 units of robots
A. immediately only under unusual circumstances such as war.
B. if there is economic growth over a period of years.
C. under no circumstances.
D. immediately only under unusual circumstances such as war AND if there is economic growth over a period of years.
Which of the following is subtracted from gross national product to arrive at the net national product?
a. net income of foreigners b. depreciation c. indirect business taxes d. transfer payments
When a country that imports a particular good imposes a tariff on that good,
a. consumer surplus increases and total surplus increases in the market for that good. b. consumer surplus increases and total surplus decreases in the market for that good. c. consumer surplus decreases and total surplus increases in the market for that good. d. consumer surplus decreases and total surplus decreases in the market for that good.
Exhibit 6A-6 Consumer equilibrium
?
As shown in Exhibit 6A-6, the marginal rate of substitution (MRS) at point X is ____ the marginal rate of substitution at point Y.
A. less than B. greater than C. equal to D. twice