The benefits from cartelizing are greater if
A) the market demand elasticity is higher.
B) the market demand elasticity is lower.
C) the market price is higher.
D) each firm cuts its output more.
B
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The purchasing power of money decreases as the price level increases
Indicate whether the statement is true or false
If a nation has an absolute advantage in producing a good, then it
A) will have a comparative advantage in producing that good. B) will have no need to trade with other nations. C) will always specialize in that good. D) might or might not have a comparative advantage in producing that good. E) will not have a comparative advantage in producing that good.
If the U.S. interest rate rises while interest rates in the rest of the world do not change, the higher U.S. interest rate
A) decreases the demand for dollars. B) increases the demand for dollars. C) has no effect on the demand for dollars. D) will stop all trading between the currencies of the U.S. and other countries.
The forecasting technique which involves the use of the least squares statistical method to examine trends, and takes into account seasonal and cyclical fluctuations, is known as
A) compound growth rate projection. B) the Delphi method. C) time series projection. D) exponential smoothing projection.