A cartel is:
A. A form of covert collusion
B. Legal in the United States
C. Always successful in raising profits
D. A formal agreement among firms to collude
D. A formal agreement among firms to collude
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At higher interest rates, banks will want to hold more reserves.
Answer the following statement true (T) or false (F)
Government purchases are defined as
A) only goods purchased by federal, state, or local governments. B) all goods and services purchased by the federal government. C) all goods and services purchased by the federal or state government. D) all goods and services purchased by the federal, state, or local government. E) goods and services purchased from the government.
Refer to the above figure. Autonomous consumption equals
A. $5000. B. -$5000. C. 0. D. $25,000.
Inflation targeting is a framework for carrying out monetary policy whereby
A) the central bank adopts a rigid target for inflation and ignores declines in output. B) the central bank commits to achieving a publicly announced level of inflation. C) the central bank commits to achieving a target level of inflation which is never announced publicly. D) the central bank commits to a monetary growth rule.