Which of the following is concerned primarily with mergers?
a. The Sherman Antitrust Act.
b. The Clayton Act.
c. The Robinson-Patman Act.
d. The Celler-Kefauver Act.
QUESTION 2Money that is acceptable because the government requires that it be accepted in payment of debt is _____.
a. legal tender
b. commodity money
c. bad money
d. backed by government's wealth
e. hoarded by the people
QUESTION 3The law of diminishing marginal returns states that as the quantity of capital per worker increases, other things constant, output per worker eventually:
a. increases at a constant rate.
b. increases at a decreasing rate.
c. increases at an increasing rate.
d. decreases.
e. remains constant.
QUESTION 4The antitrust legislation that made it illegal for a firm to pay cash for a competitor's patents, plant, and equipment was the:
a. Sherman Antitrust Act.
b. Celler-Kefauver Act.
c. Robinson-Patman Act.
d. Clayton Act.
e. FTC Act.
QUESTION 5Which type of money has the lowest opportunity cost?
a. Silver coins
b. Gold coins
c. Commodity money
d. Diamonds
e. Fiat money
QUESTION 6The per-worker production function illustrates the fact that as the amount of capital per worker increases, output per worker:
a. increases at an increasing rate.
b. increases then decreases.
c. decreases but at an increasing rate.
d. decreases.
e. increases but at a decreasing rate.
QUESTION 7The Celler-Kefauver Act deals primarily with which of the following issues?
a. Price discrimination.
b. Exclusive dealing.
c. Mergers.
d. Deceptive advertising.
e. Boards of directors.
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