A market with four firms in competition with each other has a equilibrium price of $6 and equilibrium quantity of 100,000. If the four firms form a cartel, the cartel, set price will be ________ than $6 and the set quantity will be ________ than 100,000.

Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. Then the central bank increases money growth as the result of an unannounced policy change

Under New Classical assumptions the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged

Explain what a "cap and trade" program is and how it works. Does the U.S. have a cap and trade program? If so, is it successful?