In the absence of any legally binding enforcement mechanism, individual cartel producers may find it advantageous to cheat on the agreements and engage in secret price concessions

________ choose the quantities of goods and services to produce, while ________ choose the quantities of goods and services to buy

A) Households; firms B) Firms; households and the government C) The government; firms D) Firms; only households E) Households; the government

From 2009 to 2012, the federal budget deficits were the largest budget shortfalls since World War II. The primary reason for the record-large deficits was

a. the recession experienced during this time. b. severe budget tightening by members of Congress. c. the shift in political power from Republicans to Democrats. d. All of the above are correct.