The Celler-Kefauver Act of 1950:
A. established the FTC.
B. closed down a loophole in the Clayton Act by outlawing mergers through the purchase of another firm's physical assets.
C. closed down a loophole in the Sherman Act by outlawing mergers through the purchase of another firm's physical assets.
D. banned tying contracts.
Answer: B
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If the level of technology rises, GDP per hour of labor
A) decreases for a given level of capital per hour of labor. B) increases for any level of capital per hour of labor. C) decreases because the level of capital per hour of labor decreases. D) increases because the level of capital per hour of labor increases. E) does not change because GDP increases only when capital or labor increases.
When Jack's income increases by $1,000, he spends an additional $850 dollars. This implies that his marginal propensity to consume is 0.85
Indicate whether the statement is true or false
A major criticism of static tax analysis is that it
A) uses only ad valorem taxes. B) does not use ad valorem taxes. C) ignores the incentive effects created by higher tax rates. D) assumes that the tax base will not increase.
If the required reserve ratio in an economy is equal to 10 percent and Bank A receives $100,000 as deposits, then Bank A would _____ in order to make profits
a. keep $90,000 in reserves and loan out $10,000 b. keep $10,000 in reserves and loan out $90,000 c. keep the entire amount in reserves and charge a high fee on withdrawal d. loan out the entire amount at the prevailing rate of interest