The Sherman Antitrust Act prohibits executives of competing companies from
a. fixing prices, but it does not prohibit them from talking about fixing prices.
b. even talking about fixing prices.
c. sharing with one another their knowledge of game theory.
d. failing to stand by agreements that they had made with one another.
b
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All of the following are roles of a exchange EXCEPT
A) instituting margin requirements on futures contracts. B) marking to market at the end of each day. C) eliminate the need for buyers and sellers of futures contracts to be concerned about the creditworthiness of each other. D) reducing the default risk involving forward contracts.
Economists use the mechanism of supply and demand to study:
a. inflation b. unemployment c. environmental protection d. both a and b e. all of these
Part of the reason why barely used cars sell for much less than new cars is that
A. buyers and sellers have symmetric information about cars and both have less information about used cars than about new cars. B. buyers and sellers have symmetric information about cars and both have more information about used cars than about new cars. C. buyers have more information about used cars than sellers do. D. sellers have more information about used cars than buyers do.
Inflation caused by an increase in aggregate spending is referred to as:
A. demand-push inflation. B. demand-pull inflation. C. hyperinflation. D. cost-push inflation.