If zinc suppliers are successful in forming an international zinc cartel, they will
a. lower output and raise prices, which discourages the entry of new firms into the industry.
b. lower output, raise prices, and have a need to prevent the entry of new firms into the industry.
c. raise output and raise prices, which discourages the entry of new firms into the industry.
d. raise output, raise prices, and have a need to prevent the entry of new firms into the industry.
B
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When the wages paid to government economists increase, the labor supply curve for academic economists
a. shifts to the left. b. shifts to the right. c. will become backward-sloping. d. will not change.
Which of the following is true about fiscal policy?
What will be an ideal response?
Classical macroeconomic theory was discredited and gave way to the first Keynesian approach as a result of
A) the collapse of the gold standard at the outset of World War I. B) the Great Depression of the 1930s. C) the wage-price controls of World War II. D) the rapid inflation of the late 1960s. E) the switch from fixed to flexible exchange rates in the early 1970s.
If Happy Cows, a dairy manufacturer, sells its sour cream division, this is an example of ________.
A) divestiture B) forward integration C) backward integration D) outsourcing