It is illegal to price discriminate EXCEPT in cases in which the price differences are due to actual cost differences. This situation is due to which antitrust act?
A) Clayton Act
B) Contestable Market Act
C) Federal Trade Commission Act
D) Sherman Antitrust Act
Answer: A
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There are two industries that emit sulfur dioxide. The government decides to use a cap-and-trade policy by issuing permits for pollution. If Harry's industry has a higher marginal cost of reducing sulfur dioxide than does Joe's industry, ________
A) the cap-and-trade policy will not make the amount of pollution efficient B) Joe's industry will sell permits to Harry's industry C) Harry's industry will sell permits to Joe's industry D) Harry's industry and Joe's industry will emit the same quantity of sulfur dioxide
The basic purpose of financial markets is:
A. match people who want money to spend now with people who want to save their money for later. B. buy and sell different currencies in order to make a profit. C. sell commodities to firms as inputs. D. buy commodities from firms and the government to sell to the public.
The portion of after-tax income a consumer does not spend on consumption is called
a. investment. b. saving. c. supply. d. temporary income.
The decision that the European Union should have a common currency was made at:
a. Maastricht b. Rome c. Vienna d. London