Agreements among competing sellers to maintain a certain minimum price or to divide up the market in a particular way
A) are evidence of a cooperative rather than competitive spirit in business.
B) are illegal under federal law where it is applicable.
C) benefit business firms and their customers, but at the expense of employees.
D) increase the number of job opportunities in the economy.
B
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In the short run, a fiscal policy action that results in a reduction in the size of the budget deficit will cause
A) a reduction in real GDP with falling prices if the economy was below or at full employment. B) an inflationary gap if the economy was initially operating below full employment. C) an inflationary gap if the economy was initially operating at full employment. D) an increase in real GDP with stable prices if the economy was below full employment.
When maximizing economic growth is a country's goal it:
A. may work in opposition to the country's happiness in terms of satisfaction gained from leisure. B. increases the correlation to the country's happiness, because more money makes people happier. C. creates a perfect correlation to happiness, if the money is allocated fairly. D. everyone in the economy will be better off if it obtains its goal.
Assume that the central bank lowers the discount to increase the nation's monetary base. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real GDP and net nonreserve-related borrowing/investing in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium
a. Real GDP remains the same and net nonreserve-related borrowing/investing becomes more negative (or less positive). b. Real GDP rises and net nonreserve-related borrowing/investing becomes more negative (or less positive). c. Real GDP falls and net nonreserve-related borrowing/investing becomes more positive (or less negative). d. Real GDP and net nonreserve-related borrowing/investing remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Currently (2009) farm employment is about:
A. 15.8 percent of total employment. B. 9.4 percent of total employment. C. 1.1 percent of total employment. D. 1.8 percent of total employment.