A cartel is a group of sellers of a single product who have joined together in order to enjoy the advantages of perfect competition.
Answer the following statement true (T) or false (F)
False
You might also like to view...
An important role of financial institutions is to
A) provide borrowers with low interest rates. B) provide information to lenders about the quality of financial claims issued. C) buy primary securities. D) control the money supply.
In the short run, a monopolist will always shut down when
a. total cost is greater than total revenue at all output levels b. total variable cost is greater than fixed cost c. total revenue is greater than total variable cost at all output levels d. fixed cost is greater than total revenue at all output levels e. total variable cost is greater than total revenue at all output levels
In the United States, a cup of hot chocolate costs $5 . In a foreign country, the same hot chocolate costs 6.5 units of that country's currency. If the exchange rate were 1.3 units of foreign currency per U.S. dollar, what is the real exchange rate?
a. 1/2 cup of that country's hot chocolate per cup of U.S. hot chocolate b. 1 cup of that country's hot chocolate per cup of U.S. hot chocolate c. 2 cups of that country's hot chocolate per cup of U.S. hot chocolate d. None of the above is correct.
Relative to developed economies, budget deficits are:
A. equally likely developing economies. B. politically less acceptable in developing countries. C. more likely in developing economies. D. less likely in developing economies.