What is the relationship between the Sherman Antitrust Act and the Clayton Act?
A. The Clayton Act strengthened the Sherman Antitrust Act by limiting some very specific business practices.
B. The Sherman Antitrust Act encouraged competition among firms in the U.S. while the Clayton Act encouraged competition among foreign firms.
C. The Clayton Act was the first act passed and the Sherman Antitrust Act was the second.
D. Both Acts deal with issues of setting price and quantity for regulated industries.
Answer: A
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Say you and two friends are 13,500 feet into a hiking trip to the summit of a 14,000 peak in Colorado. At that point, a rainstorm comes up all of a sudden and makes the last 500 feet trek quite treacherous. One of your friends wants to stop and head down and argues it would be dangerous to continue. He says he doesn't care about the 4 hours he has hiked already to get where he is, he only cares about the final 500 feet. Your other friend, however, wants to continue and argues that it would be stupid to quit so close to the summit, especially after all the hard work you have incurred. Which one of your two friends has a more rational argument? Please explain using the concepts from the textbook.
What will be an ideal response?