The second federal antitrust law was passed in 1914. This antitrust law is the
A) Clayton Act.
B) Robinson-Patman Amendment.
C) Cellar-Kefauver Amendment.
D) Taft-Hartley Act.
A
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Answer the following statement(s) true (T) or false (F)
1. The Stackelberg equilibrium of a sequential game must also be a Nash equilibrium. 2. In a sequential game, guaranteed commitment to a strategy will make a player worse off. 3. A merger between Gateway, a manufacturer of computers, and Logitech, a manufacturer of components for computers, would be an example of horizontal integration. 4. The Sherman Act of 1890 and the Clayton Act of 1914 gave courts the power to prevent mergers that reduce competition and provided clear criteria to apply in determining when a merger would do so. 5. Social welfare consequences are ambiguous when two or more manufacturers merge to take advantage of economies of scale.
A good or service can be consumed by a person even if he or she didn't pay for it is called ________ good
A) a private B) a public C) a normal D) an inferior E) an external
__________ occurs because firms have an incentive to become riskier after their loans are funded
A) Moral hazard B) Adverse selection C) Manager-stockholder conflict D) Manager-lender conflict
The most common form of "forced savings" in the U.S. is:
A. Social Security. B. FICA. C. unemployment insurance. D. Medicare.