One of the most famous cartels is OPEC
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Laws restricting gambling can be seen as an attempt to limit the consequences of:
A. anchoring and adjustment. B. status quo bias. C. impulse control problems. D. regression to the mean.
Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $2.25 tax on suppliers, which results in a shift of the supply curve from S1 to S2. The price the seller receives for the product after paying the tax is
A. $2.25. B. $3.50. C. $2.50. D. $1.25.
In Figure 20.2, if Aggregate Demand does not change, the increase in Real GDP will be accompanied by 
A. lower real wages. B. no change in the price level. C. a lower price level. D. a higher price level.
Which of the following may shift the labor demand curve?
A. more people entering the labor force B. a decrease in the value of leisure C. an increase in the value of leisure D. an increase in the value of output that firms produce