After participating members of a cartel form an agreement on common prices and output quotas, then an individual firm can increase its own profits by
A) increasing production.
B) increasing prices.
C) leaving the cartel.
D) incurring higher input costs.
A
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Which of the following is the most correct statement about the relationship between inflation and unemployment?
a. In the short run, falling inflation is associated with falling unemployment. b. In the short run, falling inflation is associated with rising unemployment. c. In the long run, falling inflation is associated with falling unemployment. d. In the long run, falling inflation is associated with rising unemployment.
How do economists sometimes measure physical capital in a country?
(A) The amount of roads and bridges per capita. (B) The number of computers that are available to businesses. (C) The amount of savings that the citizens have in the bank. (D) The number of telephones it has in relation to its population.