Cartels can detect cheating by
A) reporting each other to government authorities.
B) keeping two sets of accounting books, one for internal use and one for sharing with the cartel.
C) dividing the market by region so that each cartel member is the only seller in a particular region.
D) All of the above.
C
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Which of the following is true" a. To choose is to lose
b. Scarcity forces us to compete, but not to choose. c. Scarcity forces us to choose, but not to compete. d. Economic principles would be irrelevant if scarcity was eliminated.
Monopolistic competition provides the benefit of product variety but at the cost of productive inefficiency.
True or False
According to 2014 data on the U.S. population, which of the following groups of adults of prime working age (ages 25-54) had the highest labor-force participation rate?
a. white males b. white females c. black males d. black females
The term "balance of payments" refers to a nation's:
A. goods exports minus imports. B. record of all international transactions. C. capital inflows minus outflows. D. official reserves inflows minus outflows.