Which of the following is an example of an actual cartel?
a. the three largest cereal producers in the United States
b. General Motors, Ford, and Chrysler
c. the Organization of Petroleum Exporting Countries (OPEC)
d. the three major U.S. cigarette manufacturers
e. U.S. television networks -- ABC, NBC, CBS, and Fox
C
You might also like to view...
The value of the discount weight used to translate utils into current utils is:
A) one. B) less than one. C) greater than one but less than two. D) greater than one but less than three.
Senator Brown wants to increase taxes on people with high incomes and use the money to help the poor. Senator Johnson argues that such a tax will discourage successful people from working and will therefore make society worse off. An economist would say that
a. we should agree with Senator Brown. b. we should agree with Senator Johnson. c. a good decision requires that we recognize both viewpoints. d. there are no tradeoffs between equity and efficiency.