A collusion can work if ________
A) a colluder can cheat without being detected
B) a colluder values future monopoly profits more than current profits
C) a colluder charges a price higher than his partners
D) a colluder gives secret price discounts
B
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Suppose the government spending multiplier is 2. The federal government cuts spending by $40 billion. What is the change in GDP if the price level is not held constant?
A) a decrease of less than $80 billion B) an increase equal to $80 billion C) an increase of greater than $80 billion D) an increase of less than $80 billion E) a decrease of more than $80 billion
Which of the following would NOT cause the demand curve for bonds to shift?
A) a change in wealth B) a change in the price of bonds C) a change in the liquidity of bonds D) a change in expected inflation