OPEC provides an example of:
A. an unwritten, informal understanding.
B. noncollusive oligopoly.
C. an international cartel.
D. a monopolistically competitive industry.
Answer: C
Economics
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If the Treasury borrows from the public and makes an expenditure of an equal amount, it will affect
A) the supply of currency. B) the money supply. C) the supply of government securities. D) bank reserves.
Economics
A decrease in the price level, holding the nominal money supply constant, will shift the LM curve
a. upward and to the right. b. downward and to the left. c. downward and to the right. d. upward and to the left.
Economics