Suppose that R. J. Reynolds raises the price of cigarettes by 10 percent. Although they have no requirement or agreement to do so, the other cigarette firms decide to raise their prices accordingly. This situation is best described as:

Countries tend to be classified as more or less developed based on

a. the literacy rate. b. the poverty rate. c. the level of income per capita. d. the types of goods they produce.

A stock index measures the:

a. change in dividend payments of a group of stocks. b. fluctuation in the price-to-earnings ratio of each share. c. change in the trading volume in the stock exchange. d. price movements of a group of stocks. e. change in the number of enlisted companies.