Beginning in 1965, the head of the Antitrust Division of the U.S. Department of Justice began to change antitrust policy. How did antitrust policy change?
A) For the first time horizontal mergers were allowed—with government approval—and vertical mergers were allowed without need for approval from the government.
B) For the first time concentration ratios were used to evaluate the degree of competition in the industries of firms that proposed mergers.
C) The Division began to systematically consider the economic consequences of proposed mergers.
D) Proposed mergers no longer needed the approval of the Federal Trade Commission or the court system.
Answer: C
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Explain why economists care about unemployment
What will be an ideal response?
The finite nature of the economy's resource base
a. will be solved if only we would learn to conserve b. arises out of people's insatiable appetite for goods c. is only a problem in developing countries d. will disappear as technology advances e. will persist indefinitely