A cartel is
What will be an ideal response?
an agreement among a group of sellers or buyers designed to control prices by regulating sales.
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When demand increases,
A) consumers are willing to buy more at any price. B) consumers buy more of the good only if its price falls. C) the price is lower at any level of quantity demanded. D) consumers buy more of the good only if its price rises. E) the demand curve shifts leftward.
When a forest is logged, it is possible for the logging to create "soil runoff," a situation in which the soil, no longer protected by trees, erodes and silts a river miles downstream from the logging area
Is soil runoff created by logging in Montana that ruins a river an example of a private cost to the lumbering company or an external cost?
Under a fixed exchange rate system, a real interest rate corresponding to the upward-sloping portion of the NCF curve reflects the fact that a central bank ________, and the real interest rate corresponding to the horizontal portion of the NCF curve
reflects the fact that a central bank ________. A) can always supply more domestic currency; can always meet the demand for foreign currency B) can always supply more domestic currency; is limited in meeting the demand for foreign currency C) is limited in meeting the demand for domestic currency; can always meet the demand for foreign currency D) is limited in meeting the demand for domestic currency; is limited in meeting the demand for foreign currency
If Karen gets up early and studies three hours for her test, she is likely to get an A. If she sleeps in, she will probably get a C. What is the opportunity cost of sleeping in?
(A) Three additional hours of study. (B) a C. (C) An A. (D) Three additional hours of sleep.