Coffee Shower, Cloud Nine Coffee, and LoopCafe have each agreed to reduce their output in order to reduce total market supply and raise market price. This is an example of _____
a. a cartel
b. a collusion
c. a duopoly
d. game theory
b
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Government expenditures included in the expenditure approach to GDP include ________
A) Social Security and education B) net exports C) buying a new bomber D) Both answers A and C are correct.
In much of Europe, the legal age to obtain a driver's license is 18. If the legal driving age in the United States was changed to 18, how would this affect the market for new automobiles? The market for automobile insurance?
What will be an ideal response?
Explain why government, rather than private firms, is required for efficient mosquito eradication programs
Which of the following illustrates how diminishing marginal product can occur?
a. Once Sue hired Lynne to handle accounts receivable and Michael to handle accounts payable, she was able to keep up with payroll, taxes, and other administrative tasks. b. Scheduling additional stylists at the salon on Saturday caused mix-ups and delays because there were still the same number of washing and cutting stations available. c. When their team manager was on vacation, Xan and Martine stepped in to lead staff meetings and make sure updated sales figures were reported to management. d. Kurt prefers to work alone, so he runs a one-man embroidery shop, even though it means long hours and learning the hard way to keep up with payments and billing.