When two firms collude to maximize profit the total quantity produced by both firms taken together is determined at the quantity where ________
A) excess capacity is minimized
B) industry marginal cost equals industry marginal revenue
C) the price equals the industry's marginal cost
D) excess capacity is as large as possible zero
B
Economics
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According to Okun's Law, if the unemployment rate decreased by 1.75% over a year, the annual growth rate of real GDP was ________
A) 6.5% B) 1.75% C) 3.5% D) 5%
Economics
Which of the following is most likely to restore an economy to full employment, if it is operating below full employment due to a decrease in net exports?
A) Devaluation of the domestic currency B) A decrease in the demand for goods and services in the economy C) A decrease in investment in the economy D) An increase in the interest rate
Economics