A cartel is:
a. a joint venture of two companies.
b. a joining of firms for the purpose of fixing prices and controlling output.
c. a breaking up of a company into two or more parts.
d. the joining of industry with government to solve a specified problem.
e. the joining of two firms with unrelated products.
b
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The iPhone no longer comes pre-loaded with Google Maps but instead has the Apple map application pre-loaded. Regulators might be concerned with this requirement because they might see it as an example of
A) resale price maintenance. B) a tying arrangement. C) predatory pricing. D) collusion to create a monopoly.
The most important developments that reduced banks cost advantages include
A) the growth of the junk bond market. B) the competition from money market mutual funds. C) the growth of securitization. D) the growth in the commercial paper market.
Who among the following stressed the importance the voluntary exchange as a distinctly human trait?
A. Adam Smith B. Alfred Marshall C. John Keynes D. Karl Marx
The North American Free Trade Agreement and the European Union are examples of
A) defense treaties. B) regional trade blocs. C) labor agreements designed only for industrialized countries. D) agriculturally based economies.