The market power in racing goes to the
A. drivers.
B. fans.
C. owners of the independent tracks.
D. owners of the respective racing series.
Answer: D
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The incentives for oligopolists to cheat on collusive agreements are strongest during periods of increasing industry sales
a. True b. False
If debit cards become more widely used by consumers and businesses, which of the following is most likely to happen?
a. Currency holdings will remain the same, but the M1 money supply will fall. b. The amount of currency held by the public will increase. c. Less money will be held as currency and more money will be held in bank accounts, which will increase the reserves of banks unless the Fed takes offsetting actions. d. The money supply will be unaffected because debit card expenditures are considered the equivalent of cash.
In a market economy, what must an entrepreneur do in order to be successful?
a. purchase resources at lower prices than rivals b. produce a good that can be sold for more than its production cost c. obtain large subsidies from the government d. hire workers at low wage rates
It is efficient to reduce pollution to zero.
Answer the following statement true (T) or false (F)