The Sherman Act was patterned closely after the British Act against monopolies. Indicate whether the statement is true or false ANSWER F It is true that the British legislation was studied by framers for the Sherman Act, but it was not patterned closely on the British legislation.
Date: September 9th, 2020
Although originally its articulation may have been a mistake, the rule of reason has become a useful principle for interpreting antitrust law. Indicate whether the statement is true or false ANSWER T As opposed to per se, yes or no, evaluations of lawfulness, the rule of reason allows consideration of effects of a practice, […]
Date: September 9th, 2020
According to the book, four disciplines are particularly applicable to management. Which of the following was not listed as a main influence? a. Humanities b. Psychology c. Sociology d. Economics ANSWER A, pages 17-20
Date: September 9th, 2020
A monopoly can gain more from a discovery than someone else who makes the same discovery for the industry. Indicate whether the statement is true or false ANSWER F The non-monopolist starts from a much less profitable position in the industry, and for that reason can gain more than the monopolist.
Date: September 9th, 2020
In 1900, the average life expectancy in the U.S. was: a. 32 b. 47 c. 60 d. 68 ANSWER B
Date: September 9th, 2020
Management as it relates to home and family life was talked about for centuries but it became a formal study in the U.S. (and since worldwide) in the ____ century: a. 17th b. 18th c. 19th d. 20th ANSWER C
Date: September 9th, 2020
In the Hotelling model, firms can avoid price competition by differentiating their products. Indicate whether the statement is true or false ANSWER T The firms can locate at the ends of the Hotelling’s Main Street, so their prices have small rather than large effects on their competition for sales.
Date: September 9th, 2020
The Drug Price Competition and Patent Term Restoration Act of 1984 fostered competition from generic drugs by facilitating their approval. Indicate whether the statement is true or false ANSWER T The Act eliminated duplication of the original drug approval process and replaced it with a requirement to show equivalence, which could be done and […]
Date: September 9th, 2020
According to psychologist __________, physiological needs must be met before higher-order needs are undertaken. a. Abraham Maslow b. Peter Drucker c. A. J. Boothe d. Sal Schilling ANSWER A
Date: September 9th, 2020
The practice of tying can be used as a means of discriminating in price between two different customers. Indicate whether the statement is true or false ANSWER T International Salt and IBM are two examples where such use of tying would be able to accomplish price discrimination.
Date: September 9th, 2020
