The first major law created to control the growth of monopoly power was the
A. Robinson-Patman Act.
B. Sherman Act.
C. FTC Act.
D. Clayton Act.
Answer: B
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Managers in firms with market power can:
A) not influence price. B) develop strategies that involve both the demand and supply sides of the market. C) only focus on the demand side of the market. D) none of the above.
Which of the following is likely among the most concentrated industries in the United States?
A) printing and publishing B) soft drinks C) tobacco products D) household vacuum cleaners
If the economy is experiencing demand-pull inflation, then the appropriate government policy would be to shift the:
a. aggregate demand curve by using a tax increase coupled with spending cuts. b. aggregate demand curve by using a tax increase coupled with more spending. c. aggregate demand curve by using a tax cut coupled with spending cuts. d. aggregate demand curve by using a tax cut coupled with more spending. e. aggregate supply curve by using a tax cut coupled with spending cuts.
The ____ is at the center of the market process
A) managers B) shareholders C) entrepreneur D) none of these choices.