A cartel is:
a. a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves.
b. a government-approved organization for the exchange of technical information among firms
c. an industry trade group formed to lobby political leaders
d. a regulated industry manufacturers association that is officially permitted to set the price of its product above long-run average total cost.
a
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Policymakers focus on marginal tax rate changes when making changes in the tax code because the marginal tax rate
A) determines how tax revenue will change as national income increases. B) determines how much revenue the government will have to spend. C) always equals the average tax rate which is harder to measure. D) affects people's willingness to work, save, and invest.
Refer to the below table and information. What is the equilibrium interest rate?
The schedule shows various interest rates, the associated quantity demanded of loanable funds, and the quantity supplied of loanable funds in billions of dollars at those interest rates.
A. 4 percent
B. 6 percent
C. 8 percent
D. 10 percent