A cartel is likely to last longer if
A) more new firms enter the market.
B) the profits of participating members are relatively stable.
C) market prices vary more over time.
D) there are more firms in the industry.
B
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In a small country, using prices of 2012, GDP in 2012 was $100 and GDP in 2013 was $110. Using prices of 2013, GDP in 2012 was $200 and GDP in 2013 was $210
The country's BEA will calculate ________ percent as the growth in real GDP between those years. A) 7.5 B) 15 C) 10 D) 5 E) None of the above answers is correct.
Production indifference curves show the combination of inputs that produce a given output.
Answer the following statement true (T) or false (F)
Natasha is going to buy a risky asset that has an expected value of $62, which yields an expected utility of 146. Equivalently, she could get utility of 146 from a certainty equivalent of $43. What is Natasha's risk premium?
A) $19 B) $43 C) $103 D) $105
The first bankers were
A) sheriffs. B) goldsmiths. C) clergy. D) innkeepers. E) economists.