Cartels provide uniform management, but none of the advantages of economies of scale
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The discount rate is the interest rate charged by:
a. major banks to their best customers. b. banks for overnight loans to other banks. c. the Fed on loans of reserves to banks. d. banks for loans of less than 24 hours.
Figure 10-10
Given the aggregate demand and aggregate supply conditions depicted in , which of the following will tend to occur?
a.
an increase in resource prices, which will shift SRAS to the left
b.
a decrease in resource prices, which will shift SRAS to the left
c.
an increase in the real rate of interest, which will shift aggregate demand to the left
d.
a decrease in the real rate of interest, which will shift aggregate demand to the left
e.
Both b and c are correct.
One reason for the success that firms have in getting the government to erect and maintain barriers to foreign competition is members of Congress who engage in ________, where members in districts with protected industries agree to trade votes on issues
that concern other members in order to uphold tariffs. A) vote fixing B) gerrymandering C) logrolling D) filibustering
Suppose that an economy's output does not change from one year to the next, but the price level doubles. What happens to real GDP?
A. Real GDP doubles B. Real GDP is halved C. Real GDP doesn't change D. There is not enough information to determine what happens to real GDP