All of the following are true regarding the Lanham Act except which one?
A) Civil suits can be filed under the Lanham Act.
B) It prohibits trademark infringement.
C) It was passed in 1946.
D) It does not allow a competitor to sue for marketplace damages.
D) It does not allow a competitor to sue for marketplace damages.
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What makes it extremely difficult for cartels to function effectively without government assistance?
A) Cartel members cannot agree among themselves on the optimum price because all have different costs. B) High prices encourage cartel members to offer discounts, and they attract new entrants to the industry. C) Marginal cost will not equal marginal revenue except at output levels beyond the cartel's capacity. D) Public interest considerations usually require an output greater than the cartel's net revenue maximizing output. E) The hostility of the public to price exploitation makes it difficult for the cartel to defend itself against the consequences of popular hostility.
If the price elasticity of demand for radios is 2.5 (dropping the minus sign), then a 50 percent reduction in the price of radios will lead to
A. the sale of 200 additional radios. B. the sale of 125 percent more radios than before. C. the sale of 150 percent more radios than before. D. the sale of 25 percent more radios than before.
The wealth effect says that if there is an increase in the price level, you will:
A. experience some reduction in your level of wealth as a result. B. experience some increase in your level of wealth as a result. C. typically spend more on all goods and services as a result. D. typically shift your spending to assets from consumption goods.
In macroeconomic analysis, a transfer payment is considered a
a. positive tax. b. fixed tax. c. negative tax. d. variable tax.