If zinc suppliers are successful in forming an international zinc cartel, they will experience
a. lower output and higher prices, which discourage the entry of new firms into the industry
b. lower output, higher prices, and the need to organize an effort to prevent the entry of new firms into the industry
c. higher output and higher prices, which discourage the entry of new firms into the industry
d. higher output, higher prices, and the need to organize an effort to prevent the entry of new firms into the industry
e. none of the above
B
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If labor in Mexico is less productive than labor in the United States in all areas of production,
a. then neither nation can benefit from trade. b. then Mexico can benefit from trade but the United States cannot. c. then the United States will have a comparative advantage relative to Mexico in the production of all goods. d. then both Mexico and the United States still can benefit from trade.
The questions below are based on the table below. Fill in the blank spaces first. 
How many will be employed if the labor market is perfect with a going wage of $18 and the product market is imperfect?
What will be an ideal response?
Assume there are no taxes or imports. The government estimates that between 2012 and 2013 disposable income decreased by $400 billion and consumption expenditure decreased by $280 billion. Based on this data, the multiplier equals:
a) 0.33 b) 0.7 c) 1.42 d) 3.33
If the firm has already reached the minimum efficient scale, then:
A. any additional output will not result in a lower long run average cost. B. any additional output will result in a lower long run average cost. C. additional output will result in a lower long run marginal cost. D. the firm is profit maximizing in the long run.