Reaching and enforcing an agreement between members of a cartel becomes more difficult as the size of the group __________
Fill in the blank(s) with correct word
increases
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If the absolute value of the price elasticity of demand for a good is .75, the demand for that good is described as
A. inferior. B. normal. C. inelastic. D. elastic.
If the U.S. interest rate rises relative to the interest rate in other countries, then the supply of dollars ________ and the demand for dollars ________
A) does not change; does not change B) decreases; increases C) decreases; decreases D) increases; decreases E) increases; increases
Expenditure changes may be potentially inequitable, as are tax changes, because
A) their spatial distribution must be determined by the legislature. B) their spatial distribution must be determined by the Fed. C) the government is slow to implement new programs. D) unlike Japan, public works projects are the province of the executive branch.
A market basket:
A. only includes housing, food, and clothing, but not things like transportation. B. looks like a really long shopping list for what firm's typically purchase. C. includes specific goods and services in fixed quantities that roughly correspond to a typical consumer's spending. D. is what an economist creates in order to understand purchasing trends of households and firms.