The Clayton Act of 1914
a. was too vaguely worded to reduce anticompetitive behavior significantly
b. prohibited conspiracies in restraint of trade
c. prohibited price discrimination that reduces competition and cannot be justified based on cost differences
d. created the Federal Trade Commission
e. prohibited firms from reducing prices too far
C
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What did the 1958 Treaty of Rome establish?
(a) The European Payments Union (b) The European Economic Community (c) The European Coal and Steel Community (d) The Marshall Plan
A distributed lag regression
A) is also called AR(p). B) can also be used with cross-sectional data. C) gives estimates of dynamic causal effects. D) is sometimes referred to as ADL.
The optimal currency area involves a trade-off of reducing transaction costs but the inability to use changes in exchange rates to help ailing regions. If the US, Canada, and Mexico had one single currency (the Peso-Dollar) we would tend to see all of the following EXCEPT:
a. Even more intraregional trade of goods across the three countries. b. Lower transaction costs of trading within North America. c. A greater difficulty in helping Mexico as you can no longer deflate the Mexican peso. d. Less migration of workers across the three countries. e. An elimination of correlated macroeconomic shocks across the countries.
A firm that is suffering a loss should shut down immediately if total revenue (TR) is less than total variable cost (TVC)
a. True b. False