Answer the following statement true (T) or false (F)
1) Price-fixing is illegal under Section 1 of the Sherman Act.
2) Monopolization is illegal under Section 1 of the Sherman Act.
3) The U.S. Justice Department, the Federal Trade Commission, state attorneys general, and
injured private parties can independently file charges against firms under the Sherman Act.
4) Anticompetitive mergers are illegal under provisions of the Clayton Act (as amended).
1) T
2) F
3) T
4) T
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The figure above shows a nation's production possibilities frontier. In the figure, point A shows
A) the minimum quantity of pizza that the society must produce. B) the maximum quantity of pizza that can be produced. C) an unattainable point. D) an attainable point with unemployed resources. E) More information is needed to determine which of the above answers is correct.
In economics, the term "leisure" refers to:
A. nonwork activities that individuals enjoy doing. B. those activities that individuals enjoy doing. C. all nonwork activities. D. the vacation time on receives when working.
Which of the following is not an example of a capital good?
a. a pencil sharpener in an office b. an oven in a pizza restaurant c. a sawing machine at a local lumber yard d. a computer in a business e. a teacher's ability to speak two languages
When the coupon rate on newly issued bonds ________ relative to older, outstanding bonds, the market price of the older bond ________
A) increases; falls in the secondary market B) increases; rises in the secondary market C) decreases; falls in the secondary market D) decreases; falls in the primary market