Which of the following statements regarding cartels is not correct?
A) Cartels are sometimes difficult to maintain because a member can cheat by raising its price above the agreed price.
B) Cartels restrict industry output in order to raise price.
C) Cartels are inherently stable, because oligopolistic firms rarely change price.
D) are easier to establish and maintain when the cost functions of the individual members are more similar to one another.
C
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At an interest rate of 4 percent, what would be the present value of receiving $4,000 four years from now?
A) $3,420 B) $3,637 C) $3,704 D) $3,847
The Chairman of the Fed is appointed by ________
A) the Board of Governors of the Federal Reserve System B) the President of the United States C) Congress D) the U.S. Senate
In a perfectly competitive market, the process of entry and exit will end when
a. price equals minimum marginal cost. b. marginal revenue equals marginal cost. c. economic profits are zero. d. accounting profits are zero.
Which of the following is NOT a contingency theory of leadership?
a. path-goal model b. life cycle model c. vroom-yetton model d. erg model