A cartel is
A) a group of producers that agree to set common prices and output quotas.
B) a group of consumers that bid against each other for the same product.
C) a government agency that regulates markets.
D) an arbitrator to settle disputes between consumers and producers.
Answer: A
You might also like to view...
Suppose that the marginal propensity to save (MPS) equals 0.8. The value of the multiplier would be
A) 0.2. B) 0.8. C) 1.25. D) 5.0.
An increase in the price of the cheese used to produce pizza shifts the supply curve of pizza ________ and shifts the demand curve for pizza ________
A) rightward; leftward B) leftward; leftward C) leftward; not at all D) not at all; leftward
Refer to Figure 22-4. Suppose the economy gains more capital per hour worked and experiences technological change. This is shown in the figure above by the movement from
A) E to B to D. B) A to E. C) A to B to C. D) A to D.
When the economy is operating below full-employment capacity, a recessionary gap is said to exist
Indicate whether the statement is true or false