________ occurs when price- and quantity-fixing agreements among producers are implicit.
A. A price-leadership model
B. Tacit collusion
C. A Cournot model
D. A monopoly
Answer: B
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Sarah is a high school graduate and James is a college graduate. Which of the following statements is true?
A) Sara is likely to have more human capital than James. B) James is likely to have more human capital than Sara. C) Both Sara and James are likely to earn the same wage in the labor market. D) Both Sara and James are likely to have the same amount of human capital.
Under the price-specie-flow mechanism, what happens when, say, Germany's current account surplus is greater than its non-reserve capital account deficits?
A) German loans will finance all foreign net imports. B) Automatic drop in German domestic prices and rise in foreign prices. C) Gold reserves will flow into Germany. D) Gold reserves will flow out of Germany. E) Germany will experience a deficit.
Risk that is common to all assets of a certain type is referred to as
A) systematic risk. B) unsystematic risk. C) idiosyncratic risk. D) structural risk.
An automatic increase in a wage rate found in some contracts is known as a
A) change of labor agreement. B) cost of labor arrangement. C) cost of living adjustment. D) charge for living amendment.