If firms meet together to decide on prices and outputs, it is called:
a. collusion
b. oligopolistic competition.
c. price leadership.
d. a pricing conglomerate.
a
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Refer to Figure 10-5. The consumer can afford consumption bundles
A) r, s, t, and u. B) r, s, v, and u. C) s, v, t, and u. D) s, v, and u only.
The excess supply curve of a product we (H) import from foreign countries (F) increases as
A) excess demand of country H increases. B) excess demand of country F increases. C) excess supply of country H increases. D) excess supply of country F increases. E) excess supply of country F decreases.
The __________ level of government accounts for the largest share of health care spending.
A. regional B. state C. municipal D. federal
If tastes for foreign goods and services go up, then we would expect aggregate expenditure to:
A. remain constant. B. decrease. C. increase. D. increase and then sharply decrease more.