Cartels are organizations that:
A. coordinate the output and pricing decisions of a group of firms.
B. keep markets contestable.
C. encourage price wars.
D. use predatory pricing to monopolize industries.
Answer: A
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A firm with a fixed cost of $300 every month and variable cost of $200 every month decides to shut down. In such a situation it would lose:
A) $200 every month. B) $300 every month. C) $500 every month. D) $0 every month.
Which of the following statements about the balance of payments accounts is CORRECT?
A) The current account must be greater than the capital and financial account. B) The sum of all three accounts is always zero. C) The official settlements account is typically larger than both the capital and financial account and the current account. D) Typically the capital and financial account is near zero because it equals the difference between the current account and the official settlements account.
An informed party can use ________ to give information to an uninformed or lesser-informed party
A) signaling B) screening C) an individual mandate D) market noise
If the Fed buys a T-bill from an individual rather than from a bank, the effect on the money supply is
a. smaller because there is no multiplier process. b. larger because of the multiplier process. c. the same. d. impossible to predict without knowing the value of the multiplier.