The market supply curve is a statement of actual sales by suppliers.
Answer the following statement true (T) or false (F)
False
The market supply curve is a summary of the supply intentions of all producers.
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Which of the following best describes a cartel?
a. As a monopolist, a group of monopolistically competitive firms that jointly reduce output and raise the price. b. As a monopolist, a group of cooperating oligopolists that jointly reduce output and raise the price. c. A monopolist that reduces output and raises price. d. A group of identical non-cooperative oligopolists that are able to reproduce a monopoly equilibrium through price rivalry.
Crowding in occurs when government spending improves business expectations about the future and leads to higher business investment spending
a. True b. False Indicate whether the statement is true or false
Which of the following would an economist classify as capital?
A. A public corporation's employees B. A share of stock C. A computer used by an accountant D. A deposit of silver
The life cycle approach to health care puts people in the position of projecting how many resources they will need to pay for health care when they are old, a problem called the health care poverty problem.
Answer the following statement true (T) or false (F)