A cartel behaves like
A) a monopolistic competitive firm.
B) a perfectly competitive firm.
C) a monopolist.
D) an oligopolistic firm.
C
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Underlying economic theory is the idea that
A) people respond only to negative incentives, not to positive ones. B) choices are affected by both positive and negative incentives. C) value judgments do not play a role in the economic decisions people make. D) money is the only incentive that matters.
In order to increase society's well-being, measles vaccinations might be
a. taxed to discourage production b. subsidized to encourage production c. taxed to encourage production d. subsidized to discourage production e. provided without government intervention
The federal government employs more civilians than state and local governments
a. True b. False Indicate whether the statement is true or false
A stochastic process refers to a:
A. sequence of random variables indexed by time. B. sequence of variables that can take fixed qualitative values. C. sequence of random variables that can take binary values only. D. sequence of random variables estimated at the same point of time.