When is price fixing not a violation of the antitrust laws?
What will be an ideal response?
Price fixing among competitors always is a violation of antitrust law, whether or not the act was found to be harmful to consumers. If the Justice Department can prove the existence of price fixing, a defendant can offer no acceptable excuse. Price fixing between a supplier and a reseller is not illegal as long as it is not anticompetitive.
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In the Solow model, if saving per worker initially exceeds investment per worker,
A) the economy will experience inflation. B) the capital—labor ratio will increase. C) investment per worker will decline. D) saving per worker will decline.
(I) Historically, countries with colonial settlers who planned on staying for long periods of time set up sound economic institutions. (II) Countries with harsh environments not suitable for permanent settlements resulted in colonial settlers adopting weaker and less productive economic institutions before leaving
a. I is true; II is false. b. I is false; II is true. c. Both I and II are true. d. Both I and II are false.
nternet sites such as eBay make it easier for sellers and buyers to find one another and, by doing so,
What will be an ideal response?
The labels for the axes of the aggregate demand graph should be:
a. Quantity of a product on the vertical axis and the price of a product on the horizontal axis b. Real domestic output on the vertical axis and the price level on the horizontal axis c. Price of a product on the vertical axis and quantity of a product on the horizontal axis d. Real domestic output on the horizontal axis and the price level on the vertical axis