OPEC is an example of a:

A. cartel.
B. duopoly.
C. monopoly.
D. monopsony.


Answer: A

Economics

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Joshua's indifference curves for two products are shown below:Which of the following indifference curves is the most preferred?

A. U1 B. U2  C. U3 D. Unclear given the current information

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If the Federal Reserve sells $20 million worth of government securities and the M1 multiplier is 2.5. Bank reserves will

A) fall by $20 million. B) fall by $50 million. C) fall by $16 million. D) fall by $8 million.

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The central banking system of the United States:

a. Federal Reserve b. National Bank of Washington D.C. c. Dow Jones Stock Exchange d. NASDAQ Exchange

Economics

Graphically, diseconomies to scale are illustrated by

A. a downward sloping long-run average cost curve. B. a horizontal long-run average cost curve. C. an upward sloping long-run average cost curve. D. a long-run average cost curve that is shaped like an upside down U.

Economics