An illegal grouping of companies that discourages competition:
a. economies of scale
b. trust
c. perfect competition
d. oligopoly
e. price war
Answer: b. trust
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Define marginal cost. Is it different from the concept of willingness to accept?
What will be an ideal response?
A fixed exchange rate system where central banks buy and sell gold to keep exchange rates at a given level is called the:
A) fixed standard. B) flexible standard. C) fiat standard. D) gold standard.
Supply-side economic policies are designed to shift the aggregate supply curve to the left, whereas Keynesian economic policies focus on shifting the aggregate demand curve to the right during recessions and to the left during economic expansions
a. True b. False Indicate whether the statement is true or false
If the budget deficit for each year is held to a constant nominal value during constant inflationary times, then the inflation-corrected or real value of the total debt would
A. Rise at a constant rate. B. Initially rise but eventually would become negative. C. Rise at a decreasing rate. D. Begin to fall, but then continually rise.