When four Infineon Technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as:
A. a cartel.
B. if they faced kinked demand curve.
C. an industry with monopolistic competition.
D. if they were in a contestable market.
Answer: A
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If the Fed wants to increase the federal funds rate, it will conduct an open market operation in which it ________ government securities and thereby shifts the ________ curve ________
A) sells; RD; leftward B) sells; RS; rightward C) sells; RS; leftward D) buys; RD; rightward E) buys; RS; leftward The figure above shows the market for reserves.
The fundamental reason firms outsource is that:
A. low-wage workers in other countries are more productive than are U.S. workers. B. U.S. workers cannot perform the tasks performed by workers in other countries. C. hiring low-wage workers overseas reduces firms' costs. D. outsourcing increases employment overseas.
Suppose you could choose how many hours a week you will work and you are currently earning $50 an hour and working 40 hours a week. If you got a pay increase to $60 an hour and decided to work 45 hours, then we may conclude that your
A. income effect outweighed your substitution effect. B. substitution effect outweighed your income effect. C. substitution effect was equal to your income effect.
Recall the Application about how society will cope with increased demands for entitlement programs to answer the following question(s). This Application addresses the impact of increasing life expectancy and aging populations on the costs of government entitlement programs such as Social Security, Medicare and Medicaid, and examines several possible solutions to the potential problem.According to this Application, current spending on federal retirement and health programs accounts for 10 percent of GDP. Experts estimate that this spending component's share of GDP ________ by the year 2075.
A. is likely to shrink B. will more than double C. will remain constant D. will grow moderately initially then taper off