If a book publishing company sells its books to retailers with the explicit condition that the retailers may not resell the books below a specified price, this is an example of ________ and it ________ illegal per se.
A) resale price maintenance; is not
B) price fixing; is not
C) resale price maintenance; is
D) price fixing; is
A) resale price maintenance; is not
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Which of the following statements regarding cartels is not correct?
A) Cartels are sometimes difficult to maintain because a member can cheat by raising its price above the agreed price. B) Cartels restrict industry output in order to raise price. C) Cartels are inherently stable, because oligopolistic firms rarely change price. D) are easier to establish and maintain when the cost functions of the individual members are more similar to one another.
When the misery index is used to judge macroeconomic conditions, reducing inflation by one percentage point
A) has no effect at all on how we judge the economy's performance. B) is of less benefit to the economy than reducing the unemployment rate by one percentage point. C) gives the same benefit to the economy as reducing the unemployment rate by one percentage point. D) is of greater benefit to the economy than reducing the unemployment rate by one percentage point.
If the numbers of employed and unemployed do not change but the size of the civilian population increases by 10%, what would be the effect?
a. an increase in the unemployment rate and an increase in the labor force participation rate b. an increase in the unemployment rate and no change in the labor force participation rate c. an increase in the unemployment rate and a decrease in the labor force participation rate d. no change in the unemployment rate and a decrease in the labor force participation rate
An increase in the quantity demanded means that:
A. given supply, the price of the product can be expected to decline. B. price has declined and consumers therefore want to purchase more of the product. C. the demand curve has shifted to the right. D. the demand curve has shifted to the left.