Which of the following is an example of implicit collusion?
A) product differentiation
B) a retaliation strategy
C) a second-price auction
D) price leadership
Answer: D
Economics
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If the velocity of money is constant, then a 2% increase in the money supply
A) must be the result of a 2% increase in the price level. B) would change nominal GDP by a smaller percentage. C) would change nominal GDP by an equal percentage. D) would change nominal GDP by a larger percentage.
Economics
Suppose the price of eggs decreases from $2 per egg to $1.50 per egg. Due to this decrease in price, the ____ will increase
a. producer surplus b. consumer surplus c. opportunity cost of producing an egg d. social marginal cost
Economics