Why are cartels are difficult to operate?
a. They work only if members keep to the agreed output and price.
b. They are illegal worldwide.
c. Firms in a cartel are likely to lose money.
d. The products are perfectly competitive.
Answer: a. They work only if members keep to the agreed output and price.
Economics
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If the spot exchange rate between dollars and pounds is equal to 2 dollars for one pound and the forward exchange rate equals 2.10 dollars for one pound, then
A) the dollar is trading at a forward premium. B) the pound is trading at a forward discount. C) the pound is trading at a forward premium. D) the market presents an opportunity for arbitrage.
Economics
Which of the following is an income number?
a. M1 b. M2 c. GDP d. cash
Economics