Which of the following types of markets would be the most likely to maintain a successful collusive agreement?
a. a market with many sellers, many buyers, unstable market demand, and privately negotiated prices
b. a market with few sellers, many buyers, stable market demand, and privately negotiated prices
c. a market with few sellers, many buyers, stable market demand, and publicized prices
d. a market with many sellers, few buyers, stable market demand, and privately negotiated prices
e. a market with few sellers, few buyers, unstable market demand, and publicized prices
C
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A nation's average annual real GDP growth rate is 6%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is
A. 15 years. B. 12 years. C. 20 years. D. 17 years.
Which of the following models depicts the role of money as affecting only the price level in the short run?
a. The new classical model b. The Keynesian model c. The real business cycle model d. The monetarist model
A bank's most important service is
a. making money b. providing checking account services c. organizing money flowing into accounts d. providing investment advice e. increasing the amount of cash the public holds
If the production of a good generates external benefits, the government could increase efficiency by
A. regulating production of the good to reduce the amount produced. B. requiring all producers of the product to be licensed to produce the product. C. subsidizing production of the good to increase the amount produced. D. taxing the production of the good to reduce the amount produced.