Cartels:
a. encourage competition.
b. attempt to restrict output in order to raise prices.
c. rely on legally enforceable contracts between cartel participants.
d. rely on advertising and packaging to increase profits.
e. All of the above.
b. attempt to restrict output in order to raise prices.
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According to the table above, the money income distribution is ________ unequal than the market income distribution because ________ income reflects income redistribution through taxes and benefits
A) less; money B) less; market C) more; money D) more; market
Currently in the United States, banks count as their reserves
A) only the currency in their vault. B) the currency in their vault plus their holding of Treasury securities. C) only their holding of Treasury securities. D) their liabilities against which they pay no interest. E) the currency in their vault plus their deposits at the Federal Reserve.
The marginal cost curve intersects the average total cost and average variable cost curves at their minimum points
Indicate whether the statement is true or false
Which of the following would cause the sharpest decrease of price?
a. Supply decreases; demand is unchanged. b. Supply increases; demand decreases. c. Supply increases; demand is unchanged. d. Supply increases; demand increases.