The duopoly price strategy provides ________ incentive to maintain cartel pricing as compared to the grim-trigger strategy.
A. a greater
B. less of an
C. the same
D. The answer depends on the firms' average cost curves.
Answer: B
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Which of the following would be most likely to cause the per capita income of less-developed countries to rise?
a. Development of strong labor unions. b. More rapid population growth. c. Investment expenditures that enhance the human capital of labor force participants. d. An international minimum wage law.
When economists express the deficit, they generally do it as:
A. the total amount the government overspent. B. a percentage of total GDP. C. a percentage of the amount of taxes they collect. D. a partitioned amount based on where the government spent the money.
If fixed cost at quantity (Q) = 100 is $130, then
a. fixed cost at Q = 0 is $0. b. fixed cost at Q = 0 is less than $130. c. fixed cost at Q = 200 is $260. d. fixed cost at Q = 200 is $130. e. it is impossible to calculate fixed costs at any other quantity.
In order to promote growth in living standards, policymakers must
a. protect property rights. b. maintain political stability. c. encourage the accumulation of factors of production. d. All of the above