What is the legal status of a cartel among firms in the United States?
What will be an ideal response?
Cartels are illegal in the United States and in many other countries.
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The view that inappropriate monetary policy was the main reason for the depth of the Great Depression in the United States is most closely associated with
A. the monetarist view. B. the rational expectations theory. C. the mainstream view. D. the real business cycle theory.
A perfectly competitive firm has a horizontal demand curve because it can sell as much as it wants at the market price.
Answer the following statement true (T) or false (F)
In the short-run:
a. All inputs are variable b. Some inputs are fixed and some inputs are variable c. There are no fixed inputs d. The firm is not restricted in how much it can produce
A movement along a demand curve is called a change in
a. income b. quantity demanded c. demand d. tastes e. population