Cartels, tacit collusion, and predatory pricing are all illegal under U.S. antitrust laws.
Answer the following statement true (T) or false (F)
True
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You have two options for how to spend the afternoon. You can either go see a movie with your roommate or work as a tutor for the Math Department. From experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. If you spend the afternoon working as a math tutor, you will get paid $45. On a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. Should you go see a movie or work as a math tutor?
A. You should work as a math tutor. B. You should do neither C. You should go to the movies. D. Both options are equally good.
An increase in the required reserve ratio, say from 10 to 12 percent would: a. decrease the money supply by a substantial amount. b. decrease the money supply by a small amount
c. increase the money supply by a substantial amount. d. increase the money supply by a small amount.
In presidential elections, voters often find that they do not agree with any single candidate on all the issues that matter to them (the voters). This is known as the:
A. Principal-agent problem B. Limited and bundled choice problem C. Rent-seeking behavior problem D. Lack of accountability problem
Workers and firms are currently expecting the price level to increase from 110 to 114. The Federal Reserve then announces that it will be reducing the growth rate of the money supply
If the Fed's announcement is credible, and firms and workers have rational expectations, describe how the expectations of firms and workers will be affected and how the change in expectations will affect the unemployment rate.