The Celler-Kefauver Act outlawed predatory pricing.
Answer the following statement true (T) or false (F)
False
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A situation in which a country does not trade with other countries is called
A) self-actualization. B) autonomy. C) independence. D) autarky.
When the unemployment rate is on the horizontal axis and the real wage is on the vertical axis, a reduction in productivity will cause which of the following to occur?
A) The wage-setting and price-setting curves will both shift downward. B) The wage-setting and price-setting curves will both shift upward. C) The price-setting curve to shift downward, and no shift in the wage-setting curve. D) The wage-setting curve to shift upward, and the price-setting curve to shift downward. E) The wage-setting curve to shift downward, and the price-setting curve to shift upward.
A monopoly will NOT be able to perfectly price discriminate if
A) obtaining information about each buyer's reservation price is too costly. B) demand is very elastic. C) demand is very inelastic. D) resale is impossible.
Sometimes one observes that the price of a company's stock falls after the announcement of favorable earnings. This phenomenon is
A) clearly inconsistent with the efficient markets hypothesis. B) consistent with the efficient markets hypothesis if the earnings were not as high as anticipated. C) consistent with the efficient markets hypothesis if the earnings were not as low as anticipated. D) consistent with the efficient markets hypothesis if the favorable earnings were expected.