By agreeing to cooperate and abide by joint decisions, cartels most often
a. increase concentration ratios
b. increase the market share of member firms
c. increase the efficiency of production
d. behave like a monopolist
e. appear oligopolistic
D
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If the current account balance is negative, net interest is $100 billion and net transfer is -$100 billion, then
A) exports exceed imports. B) imports exceed exports. C) the official settlements account must be positive. D) real GDP exceeds potential GDP. E) the official settlements account must be negative.
Marginal revenue:
A) is the change in total revenue associated with producing one more unit of output. B) is the product of the price of a good and its quantity sold minus the cost of production. C) is always greater than the total revenue. D) is always equal to the price of the good.
If there is zero search cost, then in the presence of asymmetric information, competitive firms will
A) charge the monopoly price. B) charge the competitive price. C) charge zero price. D) shut down.
An open market purchase is where the Fed
What will be an ideal response?