A group of firms that collude is called a cartel
a. True
b. False
Indicate whether the statement is true or false
True
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________ in the expected future domestic exchange rate causes the demand for domestic assets to shift to the ________ and the domestic currency to depreciate, everything else held constant
A) An increase; right B) An increase; left C) A decrease; right D) A decrease; left
Social Security taxes are
A) progressive because all workers pay the tax. B) regressive because higher income workers pay taxes on a smaller percentage of their income. C) proportional because everyone is charged the same percentage tax rate. D) regressive because higher income workers don't pay the tax.
Quasi-concavity of utility functions insures that with only two goods, these goods must be:
a. gross substitutes. b. gross complements. c. net substitutes. d. net complements.
Secondary effects are consequences of economic actions that develop slowly over time as people react to events
a. True b. False