Cartel agreements are more likely to succeed if:
a. there are a large number of firms in the industry producing identical products.
b. there are few firms in the industry producing identical products
c. there are a large number of firms in the industry producing differentiated products.
d. there are a few firms in the industry producing differentiated products.
b
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Utility as an economic term refers to
a. the amount of electricity generated. b. the ability of a good to satisfy a want. c. tangible goods only. d. services only.
Specialization and trade benefits a participating country that: a. specializes in those things they have both a comparative and absolute advantage in
b. specializes in those things they have a comparative advantage in, even if they have an absolute disadvantage. c. They specialize in those things they have an absolute advantage in, even if they have a comparative disadvantage. d. Does either a. or b.
A sudden appreciation in the exchange rate of a country deteriorates the terms of trade of the country
a. True b. False Indicate whether the statement is true or false
In 2012, approximately what percent of the national debt was held by the Federal Reserve system?
a. 5 percent b. 10 percent c. 40 percent d. 55 percent