In order to survive, cartels must be able to enforce contracts. However, when a cartel is trading in an illegal commodity:
a. it can use the judicial system to enforce contracts.
b. it relies on altruism of members to enforce contracts.
c. it is inherently stable because the market is underground.
d. violence becomes a means of contract enforcement.
e. authorities are effective in preventing the trade.
d
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The only difference between a one- and two-sided hypothesis test is
A) the null hypothesis. B) dependent on the sample size n. C) the sign of the slope coefficient. D) how you interpret the t-statistic.
Over the last 50 years, the rich have:
A. become richer, and the poor have become poorer. B. become richer, and the poor have become richer, too. C. become relatively poorer, and the poor have become relatively richer. D. become relatively poorer, and the poor have become relatively poorer, too.
Suppose Fiona earns an annual income of $70,000 . If the rate of growth of her income remains constant at 15 percent, she is most likely to earn _____ per year after 2 years
a. $78,987 b. $25,000 c. $10,000 d. $92,575
If supply is constant, a decrease in the demand for potato chips will cause:
A.) A decrease in equilibrium price and a decrease in equilibrium quantity. B.) An increase in equilibrium price and an increase in equilibrium quantity. C.) A decrease in equilibrium price and an increase in equilibrium quantity. D.) An increase in equilibrium price and a decrease in equilibrium quantity.