An association of producers that fixes common prices and output quotas is known as a
A. common selling organization.
B. trade association.
C. cartel.
D. joint-marketing arrangement.
Answer: C
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If the Fed sells U.S. government securities, the
A) money supply decreases, and the money supply curve shifts to the right. B) money supply decreases, and the money supply curve shifts to the left. C) money supply increases, and the money supply curve shifts to the left. D) money supply increases, and the money supply curve shifts to the right.
The law of supply includes the statement "other things being equal." These other things include all of the following EXCEPT
A) resource prices. B) technology. C) producers' expectations. D) consumer's income.
A technique that can be employed to make a portfolio less risky than any of its individual securities is
A. plowback. B. diversification. C. programmed trading. D. speculation.
Answer the following statements true (T) or false (F)
1. The tax base is the percentage at which the tax is levied. 2. A sales tax is sometimes said to be regressive because the rate at which it is assessed declines as more and more taxable items are purchased. 3. The sales tax is proportional with respect to the tax base of the amount of purchases. 4. Automobile license fees and gasoline taxes are based on the benefit-received theory of taxation. 5. An excise tax can be shifted relatively easily.