If four hair products companies agree to decrease the output of their styling products and raise the price of their styling products to $18, this is an example of ________.
A) bid rigging
B) resale price maintenance
C) market division
D) price fixing
D) price fixing
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Refer to the production possibilities frontier in the figure above. Which production point indicates that resources are NOT fully utilized or are misallocated?
A) point a B) point b C) point c D) point e
If the spending multiplier equals 5 and equilibrium income is $2 billion below potential GDP, then _____ to reach the potential real GDP level
a. total spending needs to increase by $0.1 billion b. nominal GDP needs to increase by $1.2 billion c. total spending needs to decrease by $6 billion d. nominal GDP needs to decrease by $12 billion e. total spending needs to increase by $0.4 billion
Refer to Figure 5.4. Which consumption bundle would maximize the consumer's utility?
A. A
B. B
C. C
D. D
In Europe, in 2005, Microsoft was penalized for______.
a. unfair labor practices b. price discrimination c. false advertising d. bundling products