Collusion benefits cartel members by ______ in their industry.
a. reducing uncertainty
b. increasing competition
c. reducing prices
d. increasing output
a. reducing uncertainty
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Adverse selection is a situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction
Indicate whether the statement is true or false
A decrease in individual income taxes ________ disposable income, which ________ consumption spending
A) decreases; increases B) increases; increases C) increases; decreases D) decreases; decreases
Economics is the study of how people:
a. vote for political leaders who decide what is to be produced. b. make choices to produce and consume goods and services. c. establish social institutions that maximize well-being. d. develop value systems that affect their consumption choices.
In this graph, how does the expansionary policy influence short run aggregate supply?
a. It prevents the short run aggregate supply curve from moving.
b. It shifts the short run aggregate supply curve to the left.
c. It shifts the short run aggregate supply curve to the right.
d. It changes the slope of the short run aggregate supply curve.