What was the purpose of the Celler-Kefauver Act of 1950?
What will be an ideal response?
The Celler-Kefauver Act of 1950 amended Section 7 of the Clayton Act that had prohibited firms from acquiring the stock of competitors when this would reduce competition. This section had a loophole through which firms could accomplish their purpose by acquiring the physical assets rather than stock of a competing company. The Celler-Kefauver Act closed that loophole.
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If national income = $1,000 . autonomous consumption = $200, the MPC = 0.80, and intended investment demand is $200, then actual investment will
a. equal intended investment, and the economy will be in equilibrium b. be less than intended investment, and production and incomes will grow c. be greater than intended investment, and production and incomes will fall d. be less than intended investment, and production and incomes will fall e. be greater than intended investment, and production and incomes will grow
Consumers are often a primary source of discrimination in labor markets
a. True b. False Indicate whether the statement is true or false
What is the principal-agent problem?
What will be an ideal response?
Answer the following questions true (T) or false (F)
1. A network externality refers to a situation in which the usefulness of a product decreases with the number of consumers who use it. 2. Economists have shown that when the ultimatum game experiment is carried out, both allocators and recipients act as if fairness is important. 3. The iPod is a product without any significant network externalities.