If four large commercial contractors meet and agree that only one of the four contractors will submit a bid on a large government road contract, this is best defined as ________.
A) bid suppression
B) output restriction
C) market division
D) bid rigging
A) bid suppression
You might also like to view...
"Financial distress" is more easily handled in a __________-oriented financial system, in which ownership of the firm tends to be spread among __________ shareholders than in the other type of system
A) markets; more B) markets; fewer C) banking; more D) banking; fewer
Most tax payments increase as GDP increases
a. True b. False Indicate whether the statement is true or false
In the United States, exports of goods and services accounted for about what percentage of GDP (total output) in 2011?
A. 6 percent B. 14 percent C. 24 percent D. 42 percent
Which of the following happens during a recession?
A) Labor demand increases. B) The equilibrium wage rate rises. C) Labor supply falls. D) The equilibrium wage rate falls.