The act of firms working together to make decisions about price and quantity is called:
A. collusion.
B. price discrimination.
C. bulk ordering.
D. artificial competition.
A. collusion.
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
President Reagan often stated he preferred supply side policies. Which of the following federal government policies would be considered supply side?
i. decrease the quantity of money ii. lower taxes iii. lower the interest rate A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
What is the shape of the labor supply curve implied by the following statements?
a. "I'm sorry, kids, but now that I'm earning more, I just can't afford to come home early in the afternoon, so I won't be here when you get home from school." b. "They can pay me a lot or they can pay me a little. I'll still put in my 8 hours a day." c. "Now that I have received a salary increase, I am going to work 36 hours instead of 40 hours a week"
If good B is a complement to good A, then a rise in the price of B
a. increases the quantity demanded of A b. decreases the demand for A c. increases the demand for A d. decreases the quantity demanded of A e. will cause the demand for B to increase