The Clayton Act
a. preceded the Sherman Act.
b. replaced the Sherman Act.
c. strengthened the Sherman Act.
d. was specifically designed to reduce the ability of cartels to organize.
c
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What is one kind of monopoly that the U.S. government generally permits?
a. the telephone company b. professional sports leagues c. low-price gasoline d. certain kinds of medications
The marginal product of labor is
A. the percentage change in output divided by the percentage change in labor. B. the change in output that results from an increase of labor by one unit. C. the output produced by a worker of average quality. D. total output divided by total labor.
Time deposits are considered a(n) ________ of a bank.
A. liability B. required reserve C. loan D. asset
Refer to the graph shown. An effective price ceiling at $3 causes consumer surplus to:
A. fall from 130 to 120. B. increase from 120 to 130. C. increase from 80 to 120. D. fall from 110 to 80.