Which of the following is an example of tacit collusion?
a. OPEC
b. copper cartel
c. price leadership
d. government franchise granted to a utility
c
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If the desired reserve ratio is 10 percent and there is no currency drain, then a $100 increase in the monetary base leads the banking system to increase the quantity of money by
A) $1,000. B) $400. C) $900. D) $110. E) $1,100.
An individual seller in perfect competition will not sell at a price lower than the market price because
A) the seller can sell any quantity she wants at the prevailing market price. B) demand for the product will exceed supply. C) the seller would start a price war. D) demand is perfectly inelastic.
Monetary policy can affect real variables in the short run if monetary policy:
a. surprises households. b. is unpredictable. c. is random. d. all of the above.
James' pretzel stand merges with a company that supplies the condiments to James. This is an example of
A) conglomerate merger. B) concentration ratio. C) vertical merger. D) horizontal merger.