An association of producers in an industry that agree to set common prices and output quotas to prevent competition is
A. a cartel.
B. a tariff.
C. a patent.
D. economies of scale.
Answer: A
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In a randomized controlled experiment
A) there is a control group and a treatment group. B) you control for the effect that random numbers are not truly randomly generated C) you control for random answers D) the control group receives treatment on even days only.
When the marginal rate of return expected from a purchase of equipment is less than the market interest rate, then the firm should
a. seek government assistance in decreasing the market interest rate b. inform stockholders that the company can expect increased earnings from the purchase c. either purchase or not purchase the equipment depending on the marginal resource cost of the equipment d. purchase the equipment e. not purchase the equipment
If the nominal interest rate is higher than the real interest rate, then inflation must be:
A. zero. B. higher than the nominal rate of interest. C. positive. D. negative.
If society lacks enough resources to satisfy all the desired uses of the resources, this is known as:
A.) Government failure. B.) Laissez faire. C.) Scarcity. D.) Market failure.