Which antitrust act prohibits exclusive dealing, tying contracts, stock acquisitions, and interlocking directorates?
a. Sherman Antitrust Act of 1890.
b. Clayton Act of 1914.
c. Federal Trade Commission Act of 1914.
d. Robinson-Patman Act of 1936.
e. Cell-Kefauver Act of 1950.
b
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
The Fed's countercyclical policy during expansion and prosperity includes:
A. raising the required reserve ratio, raising the discount rate, and selling government bonds on the open market. B. raising the required reserve ratio, raising the discount rate, and buying government bonds on the open market. C. raising the required reserve ratio, cutting the discount rate, and selling government bonds on the open market. D. lowering the required reserve ratio, cutting the discount rate, and buying government bonds on the open market.
If the price a firm charges in a perfectly competitive industry is less than average total cost:
A. the firm is earning positive economic profit. B. the firm is earning zero economic profit. C. the firm is earning negative economic profit. D. it is not possible to determine anything about profits.
Downward sloping long-run supply curves occur in markets
A) with learning-by-doing. B) with increasing returns to scale. C) with constant returns to scale. D) Either A or B