Question 1

In the Alcoa case of 1945, the courts held that

Accepted Answer

A) the mere possession of monopoly power is a violation of the antitrust laws. 
B) only contracts and combinations that unreasonably restrain trade are in violation of the Sherman Act. 
C) retail and wholesale firms are exempt from antitrust legislation. 
D) firms that sell more than one-half of their output overseas are exempt from antitrust. 
A) the mere possession of monopoly power is a violation of the antitrust laws. 
B) only contracts and combinations that unreasonably restrain trade are in violation of the Sherman Act. 
C) retail and wholesale firms are exempt from antitrust legislation. 
D) firms that sell more than one-half of their output overseas are exempt from antitrust.

Question 2

Social regulation differs from industrial regulation in that

Accepted Answer

A) social regulation applies to virtually all industries, while industrial regulation applies to a restricted number. 
B) industrial regulation is involved in the details of the production process, while social regulation is not. 
C) social regulation has expanded less rapidly in recent years than has industrial regulation. 
D) industrial regulation regulates products, whereas social regulation regulates prices. 
A) social regulation applies to virtually all industries, while industrial regulation applies to a restricted number. 
B) industrial regulation is involved in the details of the production process, while social regulation is not. 
C) social regulation has expanded less rapidly in recent years than has industrial regulation. 
D) industrial regulation regulates products, whereas social regulation regulates prices.

Question 3

What was the importance of the Federal Trade Commission Act of 1914?

Accepted Answer

The Federal Trade Commission Act created

Question 4

Which of the following beliefs is not strongly espoused by the "active antitrust perspective" in policy enforcement?

Accepted Answer

A) Firms occasionally use illegal tactics to gain over competitors. 
B) Antitrust authorities must act like officials in a football game. 
C) Competition and creative destruction could lead to monopolies. 
D) When competition is insufficient, allocative inefficiencies will occur. 
A) Firms occasionally use illegal tactics to gain over competitors. 
B) Antitrust authorities must act like officials in a football game. 
C) Competition and creative destruction could lead to monopolies. 
D) When competition is insufficient, allocative inefficiencies will occur.

In the Alcoa case of 1945, the courts held that

Social regulation differs from industrial regulation in that

What was the importance of the Federal Trade Commission Act of 1914?

Which of the following beliefs is not strongly espoused by the "active antitrust perspective" in policy enforcement?

Limits, Alternatives, and Choices

The Market System and the Circular Flow

Demand, Supply, and Market Equilibrium

Market Failures Caused by Externalities Asymmetric Information

Public Goods, Public Choice, and Government Failure

Elasticity

Utility Maximization

Behavioral Economics

Businesses and the Costs of Production

Pure Competition in the Short Run

Pure Competition in the Long Run

Pure Monopoly

Monopolistic Competition

Oligopoly and Strategic Behavior

Technology, RD, and Efficiency

The Demand for Resources

Wage Determination

Rent, Interest, and Profit

Natural Resource and Energy Economics

Public Finance: Expenditures and Taxes

Agriculture: Economics and Policy

Income Inequality, Poverty, and Discrimination

Health Care

Immigration

International Trade

The Balance of Payments, Exchange Rates, and Trade Deficits

The Economics of Developing Countries

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Exam 21: Antitrust Policy and Regulation

In the Alcoa case of 1945, the courts held that

Social regulation differs from industrial regulation in that

What was the importance of the Federal Trade Commission Act of 1914?

Which of the following beliefs is not strongly espoused by the "active antitrust perspective" in policy enforcement?

Limits, Alternatives, and Choices

The Market System and the Circular Flow

Demand, Supply, and Market Equilibrium

Market Failures Caused by Externalities Asymmetric Information

Public Goods, Public Choice, and Government Failure

Elasticity

Utility Maximization

Behavioral Economics

Businesses and the Costs of Production

Pure Competition in the Short Run

Pure Competition in the Long Run

Pure Monopoly

Monopolistic Competition

Oligopoly and Strategic Behavior

Technology, RD, and Efficiency

The Demand for Resources

Wage Determination

Rent, Interest, and Profit

Natural Resource and Energy Economics

Public Finance: Expenditures and Taxes

Agriculture: Economics and Policy

Income Inequality, Poverty, and Discrimination

Health Care

Immigration

International Trade

The Balance of Payments, Exchange Rates, and Trade Deficits

The Economics of Developing Countries

Filters