The criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal or legal within the terms of the Sherman Act is called the
A. Rule of Reason.
B. Interstate Commerce Rule.
C. Federal Trade Commission Rule.
D. Clayton Act Rule.
Answer: A
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A customs union will increase the welfare of its members and the rest of the world if:
a. trade creation is greater than trade diversion. b. trade creation is less than trade diversion. c. trade creation is positive. d. trade diversion is positive.
The poverty rate in the United States is lowest for:
A. whites. B. blacks. C. Hispanics. D. Asians.
In 1997, GDP in the tiny country of Lindora was $4 million and the price of a market basket of goods was $15. In 2011, GDP in Lindora was $5 million and the price of a market basket of goods was $35. Given this information, it is clear that Lindora GDP
had a higher level of production in 2011 than 1997. Evaluate this statement. What will be an ideal response?
Refer to Exhibit 10-3. When disposable income equals $2,300, saving equals
a. -$20. b. -$10. c. 0. d. $10. e. $20.