Cartels:
A. can effectively sustain large profits in the long run.
B. are usually illegal.
C. can act as if they are a single monopoly.
D. All of these statements are true.
D. All of these statements are true.
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The Lorenz curve shows the:
a. growth of income over time compared to potential growth of income. b. relative percentage of income going to each of the resources. c. demand for unskilled versus unskilled labor. d. actual cumulative percentage of income received compared to a perfectly equal cumulative percentages of income.
The Monetary Control Act of 1980:
a. required banks to make home loans. b. eliminated many forms of competition among financial institutions. c. created sharper distinctions among various financial institutions. d. none of these.
Which of the following can be considered an injection into an economy?
a. Imports b. Investment c. Aid to foreign countries d. Saving e. Taxes
A consumer who has chosen the right mix of goods and services to maximize his or her utility is said to have achieved
A. consumer optimum. B. consumer surplus. C. consumer benefit. D. consumer equilibrium.