Cartels are relatively rare because
a. they are illegal in some countries, including the United States.
b. members find it difficult to agree on key decisions.
c. members frequently have an incentive to cheat on the cartel.
d. All of the above are correct.
d
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If Finland has an absolute advantage in the production of two goods compared to Latvia, Finland can still benefit from trade with Latvia
Indicate whether the statement is true or false
The market supply curve of a particular product indicates the total quantities
a. that are actually sold during a given time period b. that buyers are willing to purchase at alternative prices c. that sellers are willing and able to offer at alternative prices d. that sellers are willing to offer for sale e. of complements offered for sale
When Canadian firms outsource accounting services to the United States, in markets for the labor of accountants,
A) equilibrium employment and the market clearing wage rate will both increase in Canada, but equilibrium employment and the market clearing wage rate will both decrease in the United States. B) equilibrium employment and the market clearing wage rate will both decrease in Canada, but equilibrium employment and the market clearing wage rate will both increase in the United States. C) equilibrium employment and the market clearing wage rate will both increase in Canada and in the United States. D) equilibrium employment and the market clearing wage rate will both decrease in Canada and the United States.
Leader countries that experience modern economic growth early on will always grow faster than follower countries.
a. true b. false