Price-fixing agreements among competing firms are a violation of the Sherman Antitrust Act
a. True
b. False
A
Economics
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The federal funds rate is ________ of the Fed
A) a technique B) a monetary policy rule C) the monetary policy instrument D) an objective E) a goal
Economics
Deadweight loss refers to the reduction in economic surplus resulting from a market not being in competitive equilibrium
Indicate whether the statement is true or false
Economics
A price floor:
A. establishes a maximum price. B. establishes a minimum price. C. establishes a maximum quantity. D. establishes a minimum quantity.
Economics
Market failure will most likely arise from poor information when the product is
a. a repeat-purchase item. b. easily evaluated on inspection. c. often purchased from the same seller. d. unlikely to be purchased from the same seller in the future.
Economics