OPEC is an example of a producer's cartel that is successful because of its ability to institute tariffs on oil exports.
a. true
b. false
b. false
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Production involving a positive externality is inefficient
a. True b. False
Higher interest rates caused by an increase in the price level creates:
A. an indirect positive relationship between the price level and investment spending. B. an indirect negative relationship between the price level and investment spending. C. the incentive for individuals to spend more on consumption goods. D. the incentive for firms to invest more in new factories.
If two events are perfectly positively correlated, then
A) diversification is not necessary since there is no risk. B) diversification eliminates all risk. C) diversification does not reduce risk at all. D) diversification only cuts the risk in half.
Which of the following correctly describes the federal budget?
a. The federal budget is a plan that describes Fed's monetary policy for the current financial year. b. The federal budget is an aggregate profit and loss statement for all of the nation's business firms. c. The federal budget is the sum of the spending plans of the 50 states. d. The federal budget is a plan for federal government outlays and revenues for a specified period, usually a year.