According to the U

question 59

Multiple Choice

According to the U.S.Supreme Court's 1920 ruling on U.S.Steel,

• A)all monopolies are illegal
• B)all oligopolies violate the Sherman Antitrust Act
• C)large firms cannot be found to be in violation of the Sherman Antitrust Act
• D)"mere size is no offense"
• E)possession of market power is sufficient for a firm to be found in violation of the Sherman Antitrust Act

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Definitions:

45-Degree Line

A graphical representation in economics, typically used in Keynesian cross diagrams, showing points where aggregate expenditure equals total output or income.

C Line

A reference in economic models, often representing the consumption function, which shows the relationship between consumption and disposable income.

Disposable Income

The financial scope households possess for spending and saving activities, following income taxes.

APC

The Average Propensity to Consume denotes the percentage of income allocated towards consumption.