Which of the following actions by oligopolistic firms indicates that collusion is occurring?
a. They meet to discuss ways to reduce pollution in their industry.
b. They jointly host a conference on factory safety initiatives.
c. They join a trade association that lobbies for higher tariffs on imported goods.
d. They meet to discuss ways to deter new firms from entering their industry.
d. They meet to discuss ways to deter new firms from entering their industry.
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The full-employment rate of unemployment is zero
Indicate whether the statement is true or false
Even if the Fed could completely control the money supply, monetary policy would have critics because
A) the Fed is asked to achieve many goals, some of which are incompatible with others. B) the Fed's goals do not include high employment, making labor unions a critic of the Fed. C) the Fed's primary goal is exchange rate stability, causing it to ignore domestic economic conditions. D) it is required to keep Treasury security prices high.
The formulae for the AIC and the BIC are different. The
A) AIC is preferred because it is easier to calculate B) BIC is preferred because it is a consistent estimator of the lag length C) difference is irrelevant in practice since both information criteria lead to the same conclusion D) AIC will typically underestimate p with non-zero probability
Which is the most important function of the Federal Reserve System?
A. Setting reserve requirements. B. Lending money to banks and thrifts. C. Controlling the money supply. D. Acting as the fiscal agent for the U.S. government.