Which of the following is NOT a condition that helps enforce a cartel agreement?
A. nearly homogeneous products
B. large variation in input prices
C. easily observable prices
D. a small number of firms
Answer: B
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Any improvement in overall production technology that permits more output to be produced with the same level of inputs causes
A) a movement up the supply curve resulting in both a higher equilibrium price and quantity. B) a rightward shift of the supply curve so that more is offered at each price. C) no movement of the supply curve, but a fall in price and a decrease in quantity supplied. D) a leftward shift of the supply curve so that less is offered for sale at each price.
When the dollar appreciates, U.S
a. net exports rise, which increases the aggregate quantity of goods and services demanded. b. net exports rise, which decreases the aggregate quantity of goods and services demanded. c. net exports fall, which increases the aggregate quantity of goods and services demanded. d. net exports fall, which decreases the aggregate quantity of goods and services demanded.
An increase in productivity will:
a. Increase aggregate demand b. Increase aggregate supply c. Decrease aggregate supply and aggregate demand d. Increase aggregate supply and aggregate demand
Recall the Application about the harmattan and how it affects the price of cocoa to answer the following question(s).According to this Application, the dry dust wind known as the harmattan has caused ________ of cocoa pods.
A. a decrease in the supply B. an increase in the supply C. an increase in the demand D. a decrease in the demand