Suppose the country of Quasiland experienced a decrease in real GDP and people were laid off from their jobs. The people would be considered part of

As the ________ increases, ________

A) quantity demanded of a good; its price increases B) quantity demanded of a good; its price decreases C) price of a good; its quantity demanded increases D) price of a good; its quantity demanded decreases

What is the incentive for a firm to join a cartel?

A) to be able to earn larger profits than if it was not part of the cartel B) to be able to earn profits in the long run but not in the short run C) to produce a larger amount of output than if it was not part of the cartel D) to completely insulate itself from competition