________ extended the government's authority to ban vertical and conglomerate mergers.
A. The Federal Trade Commission Act
B. The Sherman Antitrust Act of 1890
C. The Clayton Act of 1914
D. The Celler-Kefauver Act of 1950
Answer: D
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An intertemporal budget constraint
A) requires the present value of consumption to be equal to the present value of production. B) requires total spending in each period to be equal to total consumption in each period. C) does not take into account the ability to borrow or loan goods domestically. D) categorizes income into permanent and temporary income. E) limits consumption to the amount produced in each time period.
If the average price level in 1991 was 1.20 relative to the base year in 1986, then a dollar in 1991 bought 20 percent more goods and services than a dollar in 1986
a. True b. False Indicate whether the statement is true or false
One reason why better-looking workers may have higher earnings is that physical attractiveness is correlated with intelligence
a. True b. False Indicate whether the statement is true or false
Lou buys a Star Wars: The Force Awakens poster at a garage sale for $30 and resells it on eBay to Kyle for $60. Which of the following statements is true?
A) The transaction is economically inefficient. B) The transaction has made Lou and Kyle better off. C) The transaction has made Lou better off and Kyle worse off. D) It is not possible for Kyle to enjoy any consumer surplus from this transaction.