Cartels frequently break down in the long run because
a. they are illegal
b. tacit collusion is illegal
c. contracts and agreements are legally binding
d. cooperative behavior usually lowers profits for the entire industry
e. members have an incentive to increase output
E
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Which of the following is NOT included in the monetary aggregate M2?
A) currency B) savings bonds C) traveler's checks D) checking deposits
Which of these represents an example of citizens who would not typically be counted as unemployed?
A) when your economics professor loses his job and gets a new one at McDonald's B) when your fourteen-year-old cousin loses her summer job in September C) when your neighbor has been out of work for so long that he decides to stay at home and write a novel D) all of the above E) none of the above
Supporters of globalization argue that increased globalization will lead to:
a. increased living standards. b. decreased budget deficits. c. decreased trade deficits. d. currency appreciation. e. monetary stability.
Currencies depreciate and appreciate all the time. Who gains and who loses when the Mexican peso depreciates?
a. Americans holding Mexican pesos gain, U.S. tourists to Mexico lose b. U.S. exporters to Mexico gain, Americans holding pesos lose c. Mexican tourists gain, U.S. tourists in Mexico lose d. Mexican importers gain, Mexican exporters lose e. Mexican exporters gain, Mexican importers lose