The Celler-Kefauver Act of 1950
A. declared every contract or conspiracy to restrain trade illegal.
B. extended the language of the Federal Trade Commission Act to include "deceptive" as well as "unfair" competition methods.
C. outlawed specific monopolistic behaviors such as tying contracts, price discrimination, and unlimited mergers.
D. extended the government's authority to ban vertical and conglomerate mergers.
Answer: D
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The demand for seats in 10 a.m. classes at the university is higher than the demand for seats in 8 a.m. classes. The supply of seats is fixed. If the university prices classes at the price required to achieve equilibrium at 10 a.m., there will be
A) a shortage at 8 a.m. B) a surplus at 8 a.m. C) equilibrium at 8 a.m. D) disequilibrium at 8 a.m., but we cannot determine which type.
Which of the following is not part of the "state health insurance marketplaces" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Each state is required to establish an Affordable Insurance Exchange. B) Small businesses with fewer than 50 employees are exempt from being required to participate in the program. C) Low-income individuals are eligible for tax credits to offset the costs of buying health insurance. D) None of the above are a part of the "state health insurance marketplaces" provision.
If a bank has excess reserves of $4,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 10 percent, then the bank has actual reserves of
A) $14,000. B) $19,000. C) $24,000. D) $29,000.
The Keynesian theory of money demand predicts that people will increase their money holdings if they believe that
A) interest rates are about to fall. B) bond prices are about to rise. C) expected inflation is about to fall. D) bond prices are about to fall.