The legislation which outlawed asset-purchase mergers that would substantially reduce competition was the:
A. Sherman Act.
B. Clayton Act.
C. Robinson-Patman Act.
D. Celler-Kefauver Act.
Answer: D
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Most favored nation (MFN) status means that a country treats another country
A) better than its other trading partners. B) the same as its other trading partners. C) worse than its other trading partners. D) any way it chooses since it is the "most favored nation." E) None of the above.
In a Cournot equilibrium, each firm chooses an output level which:
a. maximizes joint profits. b. maximizes the price received. c. maximizes profits given what the other firms produce. d. maximizes revenue given what the other firms produce.
What is the economic criterion most often used to compare living standards across countries?
a. Real GDP growth. b. Unemployment rate. c. Incidence of AIDS. d. Rate of population growth. e. Real per capita GDP.
How are pollution and GDP related?
A. only the harm from pollution is included in GDP B. the value of produced goods that lead to pollution are counted in GDP and pollution is not counted C. goods whose production creates pollution are not counted in GDP