Firms in a cartel usually charge:
A. the same price.
B. different prices to reflect their different costs.
C. lower prices than a monopoly would.
D. higher prices than a monopoly would.
Answer: A
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To keep employees from shirking, you can invest in greater monitoring
a. even though monitoring is expensive b. especially when monitoring is efficient c. when employees respond well to incentive contracts d. when incentives solve both moral hazard and adverse selection problems with employees
Economic theory suggests that the standard of living of American workers would rise if
a. workers were forced to retire earlier. b. automation were outlawed. c. technological improvements increased output per worker-hour. d. the minimum wage were doubled.
Demand-pull inflation occurs when
What will be an ideal response?
Refer to the table representing Kara's bank account. Assuming that $2,000 was deposited into her account at the beginning of year 1, and no further deposits or withdrawals were made, the value for cell D:
A. is $662.
B. is $242.
C. is $420.
D. cannot be determined.