An analysis of the American economy since 1960 shows that there is a stable relationship between inflation and unemployment
A) only in the short run.
B) only in the long run.
C) in neither the short run nor the long run.
D) in both the short run and the long run.
A
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What will be an ideal response?
Each member of a cartel
a. faces a temptation to cheat on the agreement because lowering its price slightly below the established price will usually increase the firm's sales and profit. b. faces a temptation to cheat on the agreement because raising its price slightly above the established price will usually increase the firm's sales and profit. c. has no temptation to cheat on the agreement because lowering its price slightly below the established price will usually have no impact on the firm's sales and profit. d. has no temptation to cheat on the agreement because raising its price slightly above the established price will usually decrease the firm's sales and profit. e. has no temptation to cheat on the agreement because lowering its price slightly below the established price will usually lower the firm's sales and profit.