Answer the following statements true (T) or false (F)
1) Each member of the European Union (EU) has its own national competition laws in addition to the EU competition laws.
2) Price fixing and market division are illegal per se in the United States and effectively illegal per se in the European Union.
3) Both the United States and the European Union consider resale price maintenance to be illegal per se.
4) The European Union competition laws strongly support the free -market system by allowing firms to charge a high price or buy at a low price regardless of the market structure.
5) If two firms located in the United States sell their products in the United States and in the European Union, the possible merger of the two firms could not be examined by the European Union competition authorities.
1) TRUE
2) TRUE
3) FALSE
4) FALSE
5) FALSE
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Discount policy affects the money supply by affecting the volume of ________ and the ________
A) excess reserves; monetary base B) borrowed reserves; monetary base C) excess reserves; money multiplier D) borrowed reserves; money multiplier
In which case would you be most likely to expect inflation to occur?
A) The government runs a sustained government deficit by lowering taxes. B) The government runs a sustained government deficit by increasing purchases. C) The government runs a sustained primary deficit by increasing purchases. D) The government funds its sustained deficit by increasing the money supply.
The basic human tendency to overvalue recent experience when trying to predict the future is called:
A. tulip mania. B. the leverage effect. C. herd instinct. D. the recency effect.
Which of the following is not included in aggregate demand?
What will be an ideal response?