What is tacit collusion?
What will be an ideal response?
Tacit collusion occurs when price- and quantity-fixing agreements among producers are implicit (i.e. without an explicit agreement).
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Which of the following institutional changes contributed to the high rate of development in European and North American countries?
a. An increase in government intervention in production and consumption of goods and services through taxes and subsisidies b. An increase in governments' support to monopolistic firms and businesses c. An increase in government ownership of resources d. Stricter enforcement of private property rights
Systemic risks are most likely to exist with regard to
A. small governments. B. large governments. C. small financial institutions. D. large financial institutions.