All cartels are inherently reliant on
a. a horizontal demand curve.
b. an inelastic demand for their product.
c. the cooperation of their members.
d. enforcement of antitrust laws.
c
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Suppose that the labor movement has a revival in the United States and the majority of workers join labor unions. As a result we would expect
A) the unemployment rate to fall. B) the unemployment rate to rise. C) no change in the unemployment rate, but a decrease in the natural rate of unemployment. D) an increase in the unemployment rate, but a decrease in the natural rate of unemployment.
Suppose that an employer can hire workers with brown hair and workers with blonde hair. Each type of worker has the same productivity. Which of the following is correct if the employer discriminates by hiring only workers with brown hair?
a. The employer will be just as efficient as a nondiscriminating employer. b. The employer will face higher costs than firms that focus only on maximizing profits. c. The employer will immediately go out of business because discrimination is illegal. d. The employer will face union strikes.
If because they expect the central bank to disinflate, people reduce their inflation expectations, then is the sacrifice ratio larger or smaller the otherwise? Defend your answer by referring to the Phillips curve
The external costs of cigarettes are related to the health problem smoking produces for both smokers and nonsmokers. One estimate places these costs at 29 cents per pack. Presently, sales and excise taxes on cigarettes average about 37 cents per pack. These estimates suggest that (i) cigarette consumption is below the optimal or efficient quantity; (ii) cigarette taxes should be reduced.
A. i and ii B. i but not ii C. ii but not i D. neither i nor ii