Which of the following antitrust laws broadened the list of illegal price discrimination practices and is often called the "Chain Store Act"?
a. The Clayton Act.
b. The Federal Trade Commission Act.
c. The Robinson-Patman Act.
d. The Celler-Kefauver Act.
c
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When the Fed lowers the federal funds rate, which of the following economic variables responds most slowly?
A) other short-term interest rates B) the inflation rate C) consumption expenditure D) the long-term real interest rate E) the supply of loanable funds
The figure above shows Prakash's and Gail's production possibilities frontiers for writing books and magazine articles
a. What is Prakash's opportunity cost of a book? What is Gail's opportunity cost? Who has the comparative advantage in writing books? b. Who has the comparative advantage in writing magazine articles? c. According to their comparative advantages, who should write books and who should write magazine articles?