A cartel is
A) an agreement among competitors to regulate prices or output.
B) a bond with no fixed maturity date.
C) a contract between manufacturers and retailers.
D) a highly leveraged buy-out.
E) a shopping center in which all lessees pay the same percentage of common operating costs.
A
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We are investigating the relationship among three variables. We have graphed two of them. Suppose that the variable that is not measured on the x-axis or the y-axis changes. Then, there is
A) no impact on the plotted curve because the variable is not measured on either of the axes. B) a violation of the absence of trend assumption. C) a shift in the plotted curve. D) a movement along the plotted curve. E) an omitted variable.
A traditional economist probably would not want to give up the assumption of consumer sovereignty because it:
A. opens up a Pandora's box of problems and complexity. B. would violate Hume's dictum. C. would violate the Schroeder principle. D. is an empirically verifiable assumption.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. AC represents Tom's budget constraint. Point D then represents a point that is
A. available, but at which he does not spend all his income. B. not available because it represents a combination of hamburgers and hot dogs that he cannot purchase with his income. C. an available option, as Tom is just spending all of his income. D. in his opportunity set but not on his budget constraint.
If a company is expected to earn $1 per share this year and 2% more per share each subsequent year, the stock price in an efficient market will reflect
A. both of these pieces of information. B. the $1 per share but ignore the 2% annual growth. C. neither of these pieces of information. D. the 2% annual growth but not the starting point of $1 per share.