Tacit collusion occurs when price- and quantity-fixing agreements among producers
A. are implicit.
B. are nonexistent.
C. are explicit.
D. are legal.
Answer: A
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An unexpected fall in Capacity Utilization should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Macroeconomics often relies on microeconomic analysis because
A) microeconomics is older than macroeconomics. B) microeconomic theory can be tested and macroeconomic theory cannot be tested. C) all aggregates are made up of individuals and firms. D) the effects of macroeconomic subjects such as inflation and unemployment are independent of individual consumers and firms.
The United Auto Workers has fought for curbs on imports of foreign-made cars in order to cause
a. a rightward shift in the supply of U.S. cars b. a leftward shift in the supply of U.S. cars c. movement to the left along the supply curve for U.S. cars d. movement to the right along the supply curve for U.S. cars e. a rightward shift of the demand curve for U.S. cars
The demand for lobster is lower in the spring than in the summer. If the price of lobster is higher in spring than in summer then
a) consumers' tastes for lobster are greater in spring than in summer b) the supply of lobster is greater in summer than in spring. c) there are more substitutes for lobster in summer than there are in spring d) there is a shortage of lobster in spring and a surplus of lobster in summer