A cartel is a formal agreement among firms to control price and output of a product
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
A survey of 200,000 people finds 76,300 "employed," 6,640 "unemployed," and the remaining 117,060 "not in the labor force." What is the unemployment rate derived from these numbers?
A) 8.7 percent B) 3.3 percent C) 8.0 percent D) 5.7 percent
When the slope of the total production curve begins to flatten:
A. the marginal product must be decreasing. B. diminishing marginal product must be occurring. C. additional inputs adds less to total production than the inputs added before. D. All of these are true.
Since 1960, real GDP has fluctuated to some extent; however, there has been virtually no overall growth when the entire time span is considered
a. True b. False
City governments are not allowed to increase the minimum wage in their cities.
Answer the following statement true (T) or false (F)