Which of the following is LEAST likely to be a reason for firms to form a cartel?
A) to maximize profits of the cartel
B) to raise competition among firms in the cartel
C) to cut back output of the cartel
D) to set common prices among firms in the cartel
Answer: B
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Leaving the labor force or finding a job are two ways that:
A. an unemployment spell can begin. B. a person can become an involuntary part-time worker. C. a person can become a discouraged worker. D. an unemployment spell can end.
As the Fed responded to the financial crisis that followed the collapse of the housing market, certain banks were deemed too:
A. large to fail, and were consequently purchased by the government. B. small to fail, as they were easy to save. C. large to stay afloat, as they would be too costly to save. D. large to fail, as their failure would carry the risk of causing a domino effect in the highly integrated financial system.
The number of times per year, on average, that a dollar is spent on final goods and services is known as
A) the income velocity of money. B) the price of money. C) the money supply. D) the equation of exchange.
A balance of payments deficit occurs if
A) the demand for a nation's currency exceeds the supply of the currency at the current exchange rate. B) exports exceed imports. C) the supply of a nation's currency is equal to the demand for the currency at the current exchange rate. D) the supply of a nation's currency exceeds the demand for the currency at the current exchange rate.