In bilateral monopoly, price and output are determined by the intersection of demand and supply curves.
Answer the following statement true (T) or false (F)
False
In a bilateral monopoly market, wages and employment aren't determined simply by supply and demand. Rather, economic outcomes must be determined by collective bargaining-that is, direct negotiations between employers and labor unions for the purpose of determining wages, employment, working conditions, and related issues.
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If consumption has fallen, which of the following could be TRUE?
a. Taxes have fallen. b. Income has fallen. c. Taxes and income have fallen. d. Disposable income has risen.
Suppose that in order to estimate of the average effect of participation in a job training program (train) on wage, you included controls for education (educ), years of experience (exper) in your model: log(wage) = 
+ 
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+ 
+ u . Which of the following is a reason why the coefficient, 
, might be biased?
A. Exper is uncorrelated with train.
B. Educ is likely correlated with both wage and train .
C. Educ and exper are highly correlated with each other.
D. There might be some other variable that is also correlated with both wage and train.
The recent regulation that was designed to limit risk-taking by banks by requiring them to report their holdings is called the:
A. Dodd-Frank Wall Street Reform and Consumer Protection Act. B. Troubled Asset Relief Program. C. Federal Deposit Insurance Act. D. Glass-Steagall Act.
In a cartel, participating members can cheat by
A) letting more entrants join the cartel. B) leaving the industry. C) producing a lower production level than the cartel quota. D) charging a slightly lower price and raising production.