If entry-restricting legal barriers effectively organized the funeral home industry of a large city into a monopoly cartel, economic theory indicates that, compared to the previously competitive situation,
a. the price of funeral services would decline, and output would increase.
b. both the price and output of funeral services would decline.
c. the price of funeral services would increase, and output would decline.
d. both the price and output of funeral services would increase.
C
Economics
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If real disposable income increases, the average propensity to save will
A) decrease. B) increase. C) remain constant. D) initially increase, and then decrease.
Economics
What is/are the advantage(s) of the gold standard?
(a) The government can print money as required by cyclical fluctuations in domestic markets. (b) Floating exchange rates. (c) It requires monetary discipline. (d) All of the above.
Economics