Collusion is most likely to succeed when there are ___________ firms in an industry.
Fill in the blank(s) with the appropriate word(s).
few
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Scarcity affects only those who are in need
Indicate whether the statement is true or false
From the classical perspective, an increase in unemployment during a recession represents
A) voluntary unemployment. B) a roughly equal mix of voluntary and involuntary unemployment. C) involuntary unemployment. D) a decrease in the number of discouraged workers in an economy.
Which is NOT an example of government intervention in the economy?
A. The Great Recession B. The Federal Reserve C. The Food and Drug Administration D. The Troubled Asset Relief Program
Given a production possibility curve for good X (on the x-axis) and good Y (on the y-axis), the opportunity cost of increasing good X is greatest when the slope of the production possibility curve is:
A. 6. B. 4. C. ?6. D. ?4.