Firms that coordinate economic activities to reduce competition is considered illegal per se.
Answer the following statement true (T) or false (F)
True
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Which of the following is the best way to describe equilibrium in a market? At equilibrium, the
A) price is the lowest possible. B) price is usually affordable to most people. C) supply and demand curves can never shift again. D) quantity supplied equals the quantity demanded.
Suppose the interest rate is 6% and compounded annually. What is the present discounted value of 6 future annual payments of $150?
A. $634.46 B. $737.60 C. $849.06 D. $900.00
When there is a decrease in the unemployment rate,
A. The economy moves closer to the production possibilities curve. B. There is a movement along the production possibilities curve. C. The production possibilities curve shifts inward. D. The production possibilities curve shifts outward.
If the demand for mushrooms increases while the supply remains unchanged, this will result in
A. a shortage of mushrooms as the market price remains unchanged. B. an increase in the quantity of mushrooms sold and an increase in their price. C. an increase in the quantity of mushrooms sold but no change in price. D. a decrease in the quantity of mushrooms sold and an increase in their price.