Which of the following best expresses the attitude toward competition of a firm engaged in tacit collusion with its rivals?
a. A rolling stone gathers no moss.
b. Waste not, want not.
c. Do unto others as you would have them do unto you.
d. Ask, and ye shall receive.
c
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A prominent aspect of the Great Depression of the 1930s, but not of the recent Great Recession, is ________
A) bank panics B) mortgage defaults C) an increase in the credit spread D) nonconventional monetary policy
If the Fed followed through on plans to be more open to and more quickly provide the public with information about monetary policy, then we would expect to see
a. the impact of the money supply on output would get stronger. b. the Fed would not have any power over output in the future. c. the impact of the money supply on output would get weaker. d. information does not affect output.
Suppose a U.S. government program subsidizes the production of domestic sugar producers and places a tariff (tax) on the importation of sugar from other countries. This program
a. helps the producers of sugar, but increase the opportunity cost of obtaining it. b. promotes the production of goods that consumers value highly relative to cost. c. creates wealth, because the government is providing the subsidies and imposing the tariffs. d. will reduce the opportunity cost of obtaining sugar and therefore lead to lower sugar prices.
If the total variable cost curve is a straight line then the
A. total cost curve will also be a straight line. B. total cost curve may or may not be a straight line. C. marginal cost function is upward sloping. D. marginal cost function is downward sloping.