A cartel is a group of firms with an implicit, informal agreement to fix prices and output shares in a particular market.
Answer the following statement true (T) or false (F)
False
A cartel is a group of firms with an explicit, formal agreement to fix prices and output shares in a particular market.
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Suppose a scientific breakthrough made free solar power available in unlimited quantities in the United States. The effect of this invention would be to move the
A) United States beyond its production possibilities frontier. B) United States inside its production possibilities frontier. C) U.S. production possibilities frontier outward. D) U.S. production possibilities frontier inward.
The fiscal policy planner's job is made easier because full-employment GDP can be accurately measured
a. True b. False Indicate whether the statement is true or false
Which of the following countries has the largest union membership measured as the percentage of civilian employees in unions?
a. The United States b. The United Kingdom c. Sweden d. Japan
Bank of the Gulf has a required reserve ratio of 10 percent. It receives $180,000 in new deposits and then loans the excess reserves from this deposit to Kayla, who is building a new greenhouse. Kayla deposits the money into her checking account at Vulcan Bank until she needs it. How much money has Bank of the Gulf created?
a. $162,000 b. $18,000 c. $324,000 d. $180,000