The Sherman Act
A. prohibited banks from crossing states lines.
B. prohibited railroads from transporting explosives.
C. declared that monopolization and restraint of trade were illegal.
D. provided for the regulation of natural monopolies.
Answer: C
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When confronted with rational expectations regarding changes in monetary policy, the short-run Phillips curve may be vertical
Indicate whether the statement is true or false
Tommy spends most of his monthly budget on $3 video game rentals or $6 packets of baseball cards. The opportunity cost to Tommy of an extra packet of baseball cards is
A. one video game rental. B. two video game rentals. C. the cost of the baseball cards. D. he does not incur an opportunity cost.
According to the Justice Department and the Federal Trade Commission, a merger would likely be challenged if
A) the post-merger industry has an HHI above 1,500 and the HHI rises by more than 100. B) the post-merger industry has an HHI above 500 and the HHI rises by more than 50. C) the number of firms in the post-merger industry is very large. D) the firms' markets are very large.
Which of the following was the average yearly increase in U.S. labor productivity growth between the 1870s and the early years of the 21st century?
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