The beginning of antitrust law is found in the
A) 1914 Clayton Act.
B) 1890 Sherman Act.
C) 1947 Taft-Hartley Act.
D) 1950 Cellar-Kefauver Act.
B
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A supplier of paper napkins to the fast food industry is unlikely to have significant bargaining power
Indicate whether the statement is true or false
Workers employed in jobs that do not utilize their productive talents or experience are considered
a. structurally unemployed b. structurally employed c. discouraged workers d. underemployed workers e. untrainable
Other things held constant in a competitive labor market, if workers negotiate a contract in which the employer agrees to pay an hourly wage rate of $17.85 while the market equilibrium hourly wage rate is $16.50, the:
A. quantity of workers supplied will exceed the quantity of workers demanded. B. supply of labor will decrease until the equilibrium wage rate is $17.85. C. demand for labor will increase until the equilibrium wage rate is $17.85. D. quantity of workers demanded will exceed the quantity of workers supplied.
In a barter system people:
A. have to specialize in order to have goods to trade. B. must be self-sufficient. C. cannot specialize because they never know what goods will be desired. D. are less likely to specialize as extensively as they would in a monetary economy.