Which of the following defines monopolization?
A. the Federal Reserve
B. Federal Trade Commission Act
C. U.S. Supreme Court
D. the Securities and Exchange Commission
Answer: C
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Exhibit 8-2 Consumption function
As shown in Exhibit 8-2, the 450 line represents:
A. autonomous consumption. B. real consumption spending. C. real disposable income. D. all points where real consumption equals real disposable income.
It costs a television manufacturer $1,000 to produce a plasma television. This manufacturer sells these televisions abroad for $750. This is an example of
A. dumping. B. a trade-related economy of scale. C. a negative tariff. D. an export subsidy.
Which of the following is NOT correct regarding the theories of income distribution?
A) Dealing with how income ought to be distributed is a normative issue. B) The productivity standard for the distribution of income is stated "to each according to what they produce." C) The egalitarian principle of income distribution is "to each exactly the same." D) Dealing with how income should be distributed is a positive economic issue.
The slope of the production possibility frontier shows
a. the marginal rate of substitution between the two goods. b. the relative marginal costs of the two goods. c. the efficient combination of outputs possible using fixed amounts of input. d. the relative marginal productivities of the two goods.