Price-fixing is an explicit agreement among producers to sell a good at a particular price.
Answer the following statement true (T) or false (F)
True
The most explicit form of coordination among oligopolists is price-fixing, which occurs when firms in an oligopoly explicitly agree to charge a uniform (monopoly) price.
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Compared to the 1973 to 1995 period, average real earnings of workers ________ from 1960 to 1973.
A. grew at about the same rate B. grew more slowly C. grew more rapidly D. declined
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
If the exchange rate rises as shown by the arrow in the figure above, the price of imports coming into the United States will be ________, Americans will supply ________ dollars in order to get the foreign exchange to purchase ________ imported goods
. A) higher; more; more B) lower; more; more C) lower; fewer; more D) lower; fewer; fewer E) higher; fewer; more The figure above shows supply curves of dollars in the foreign exchange market.
If goods X and Y are complements, then the cross price elasticity of demand will be
A) elastic. B) greater than zero but less than 1. C) negative. D) positive.