The Sherman Antitrust Act
A. declared monopoly and trade restraints illegal.
B. made tying contracts illegal and banned price discrimination.
C. limited mergers that would substantially limit competition.
D. called for the establishment of the Federal Trade Commission.
Answer: A
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An increase in labor hours will lead to
A) a shift of the aggregate production function but no movement along it. B) a movement along the aggregate production function but no shift in it. C) both a movement along and a shift in the aggregate production function. D) neither a movement along nor a shift in the aggregate production function.
When a tax is present in a market, the price paid by consumers:
A. equals that received by suppliers, but it is higher than the market price in the absence of taxes. B. is greater than that received by suppliers. C. is less than that received by suppliers. D. equals that received by suppliers, but it is lower than the market price in the absence of taxes.
The European Union started out as a
A. regional trade agreement. B. union of nations with identical tariffs. C. union of nations where the same language was spoken. D. union of nations with identical currency.
Income taxes are _________ liens
Fill in the blank(s) with the appropriate word(s).