In a sense, a cartel is self-destructive because
A) it reduces consumer surplus.
B) it sets price above marginal cost.
C) each cartel member has the incentive to cheat on the cartel.
D) each cartel member earns economic profit.
C
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Assume that the yuan-dollar nominal exchange rate at the beginning of 2012 was 4 yuan per dollar and at the beginning of 2013 was 6 yuan per dollar
Given this information, identify the currency that appreciated and the currency that depreciated over 2012.
Which of the following statements is correct for the case of a downward-sloping demand curve (beyond the first unit of output)?
A) P = AR = MR B) P = AR > MR C) P > AR > MR D) P = AR < MR
The strongest point in the case against activism is that
A) so many segments of private aggregate demand are unstable. B) activist policy, even if desirable, is too difficult to perform well enough. C) private aggregate demand is basically stable. D) policy rules for targets have been proven by the record of the Fed in the 1980s and 1990s to be perfectly feasible.
The majority of elementary and secondary school expenditures is financed by federal and state income taxes
Indicate whether the statement is true or false