Which of the following is evidence of an ineffective cartel?
a. Output changes are dictated by changes in demand.
b. Price changes are dictated by changes in demand.
c. Members do not agree on output quotas.
d. All of these.
d
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Refer to Table 20-10. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 14.3 B) 87.5 C) 114.3 D) 160
In rational expectations theory, the term "optimal forecast" is essentially synonymous with
A) correct forecast. B) the correct guess. C) the actual outcome. D) the best guess.
With a rise in government expenditure we
A) move up along an aggregate demand curve. B) move down along an aggregate demand curve. C) shift the aggregate demand curve to the right. D) shift the aggregate demand curve to the left.
Using the table above, and assuming no bequest, what amount of consumption is chosen in period 1, if the consumer wants consumption in the two periods to be equal?
If initial wealth is $40,000, what amount of consumption is equal over the two periods?