A union can always get the wage rate it demands from a monopsonist, but not from a perfectly competitive employer
Indicate whether the statement is true or false
F
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Real GDP is $1,400 billion and nominal GDP is $1,800. The GDP price index equals
A) 100.0. B) 2.86. C) 77.0. D) 222.2. E) 128.6.
Briefly explain how the miserliness of Ebenezer Scrooge might actually be beneficial for economic growth
What will be an ideal response?
Refer to Figure 27-10. In the graph above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could Congress and the president use to move the economy to point C?
A) buy Treasury bills B) increase income taxes C) increase government spending D) decrease the discount rate
A cartel is a(n)
a. form of explicit collusion in which the parties collectively behave like a monopoly b. market that changes very little as firms enter and exit c. implicit pricing scheme that does not involve explicit communication between the parties d. form of nonprice competition e. group of firms engaged in price discrimination