Related to the Economics in Practice on Page 282

question 344

Multiple Choice

Related to the Economics in Practice on page 282. In January 2012

• A) the U.S. Supreme Court ruled that Google violated U.S. antitrust laws.
• B) the Justice Department ruled that Microsoft could not merge its search engine, Bing, with Google.
• C) the FTC settled a suit against Google.
• D) the FTC ruled that Google must break up its monopoly.

---

Definitions:

Acceptable Price Range

The range of prices within which buyers and sellers are willing to transact, often determined by market conditions and personal valuation.

Commodity Grade

A classification standard that specifies the quality and condition of commodities to ensure they meet minimum standards for trading.

Basis

The difference between the spot price of an asset and the futures price of the same asset.

Long Hedger

An investor who purchases futures contracts or the underlying asset to protect against potential price increases.