An exclusive contract:
a. makes it illegal to price discriminate.
b. requires a buyer to purchase all products from a specified supplier.
c. requires a buyer not to purchase any requirements from the competitor of a specified supplier.
d. requires the buyer to purchase a second product as a condition of receiving the one he wants.
e. requires a seller to market its product within a limited geographic territory.
QUESTION 2Specialization of labor means that:
a. production requires a special kind of labor.
b. the overall skill level of labor is increasing.
c. individuals produce goods other than those they want to consume.
d. individuals achieve self-sufficiency in production.
e. exchange within an economy consists of trading in services.
QUESTION 3An increase in the supply of loanable funds, other things constant, will increase the interest rate.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 4The Clayton Act:
a. was passed in 1890.
b. created the Federal Trade Commission.
c. abolished antitrust policy in this country.
d. attempted to give explicit content to what formed an antitrust violation.
e. made mergers between corporations illegal.
QUESTION 5Barter may be the only alternative:
a. if the supply of money dries up.
b. if the price system is not allowed to function properly.
c. if disinflation sets in.
d. if hyperinflation sets in.
e. if fiat money is discontinued.
QUESTION 6An increase in the demand for loanable funds, other things constant, will increase the interest rate.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 7The Clayton Act was passed in:
a. 1887.
b. 1890.
c. 1914.
d. 1936.
e. 1952.
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