The Basic Idea Behind Leader-Member Exchange Theory Is

question 71

Multiple Choice

The basic idea behind leader-member exchange theory is:

• A)followership is based on member perceptions of equity
• B)leaders form two groups of followers (in-groups and out-groups)
• C)leaders develop relationships with followers based on the principle of who does what and how much for whom
• D)followership depends on the degree that a task is satisfying

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Definitions:

Antitrust Laws

Legislation (including the Sherman Act and Clayton Act) that prohibits anticompetitive business activities such as price fixing, bid rigging, monopolization, and tying contracts.

Anticompetitive Mergers

Mergers between companies that significantly reduce competition in the market, potentially leading to higher prices and reduced consumer welfare.

Clayton Act

The federal antitrust law of 1914 that strengthened the Sherman Act by making it illegal for firms to engage in certain specified practices including tying contracts, interlocking directorates, and certain forms of price discrimination.

Monopoly Structure

A market structure characterized by a single seller producing a unique product with no close substitutes, leading to significant control over the market and pricing.