Between 1986 and 1998 the De Beers company controlled the world diamond market. De Beers and its affiliated association of producers restricted diamond sales to maximize profits
De Beers and its association was "the only game in town" and had what is A) a cartel.
B) a duopoly.
C) monopolistic competitor.
D) perfect competitor.
A
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Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output. Thus:
A. saving is $10 billion. B. unplanned decreases in inventories of $10 billion will occur. C. the MPC is .80. D. unplanned increases in inventories of $10 billion will occur.
The ________________ program has often been popular with both economists and the general public because of the way it effectively increases the payment received for work. On average, benefits from this program come to less than $2,300 per family with children.
a. Temporary Assistance for Needy Families (TANF) b. Supplemental Nutrition Assistance Program (SNAP) c. Aid to Families with Dependent Children (AFDC) d. Earned Income Tax Credit (EITC)