The Sherman Antitrust Act:
a. prohibited restraint of trade.
b. created the Federal Trade Commission.
c. prohibited fraudulent advertising.
d. regulated the railroads.
a
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Refer to Figure 9.2. A movement from point b to point a could be caused by a(n)
A) increase in government spending. B) decrease in the price of oil. C) increase in taxes. D) a massive crop failure.
A major tax overhaul is more likely to be in the public interest that a small tax reform
a. True b. False
The kinked demand curve explains the observation that in oligopoly markets
A. Prices may not change even in the face of cost increases. B. Practice product differentiation. C. Rivals do not match price reductions. D. Rivals match price increases.
Suppose that, when the price of steel drops, steel companies tend to cut back on investment in their non-steel activities more than other firms in these same non-steel activities. This would support the idea that
A) cash flow matters for investment. B) cash flow does not matter for investment. C) business firms do not care about profit. D) business firms do not care about interest rates. E) business firms do not use discounting.