Figure 11-3
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In Figure 11-3, which line represents the change in the consumption schedule caused by a cut in fixed taxes?
A. C1 in graph (a)
B. C2 in graph (a)
C. C1 in graph (b)
D. C2 in graph (b)
Answer: B
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The Clayton Act of 1914 was passed to prohibit, in part, price discrimination if the effect is to substantially lessen competition or create monopoly
Indicate whether the statement is true or false
Under U.S. antitrust law, a consent decree allows a firm to
a. admit to an antitrust violation without penalty b. admit to an antitrust violation without a lawsuit c. challenge the government's accusation in court d. cease the alleged wrongdoing without admitting guilt e. cease the alleged wrongdoing only by admitting guilt
The primary reason most oligopolists do not become monopolists is
a. inadequate profit b. disinclination to merge c. fear of government d. inability to prevent competitors from entering the industry e. inability to differentiate their goods
When General Dwight D. Eisenhower ran for the presidency for the first time, he said he would
A. end the recession and end inflation. B. end the recession and end the Korean War. C. end inflation and end the Korean War. D. end the recession, the Korean War, and inflation.