A group of firms that coordinate their pricing decisions is called:
A. a monopoly.
B. a duopoly.
C. a cartel.
D. monopolistic competition.
Answer: C
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Small-denomination time deposits are less than
A) $1,000. B) $1 million. C) $100,000. D) $10,000.
With flexible exchange rates, perfect asset substitutability, and perfect capital mobility, expansionary monetary policy will cause
A) income to rise, interest rates to fall, and the domestic currency to depreciate. B) income to fall, interest rates to rise, and the domestic currency to appreciate. C) income to rise, interest rates to remain unchanged, and the domestic currency to appreciate. D) income to rise, interest rates to remain unchanged, and the domestic currency to depreciate.
The primary source of revenue for local governments is _____
a. income taxation b. sales taxation c. estate taxation d. property taxation
Along the portion of the consumption function that lies above the 45-degree line, saving is
A) positive. B) negative. C) equal to zero. D) equal to consumption.