An oligopolistic firm that is part of a collusive agreement is less likely to cheat
a. the more punishment it expects if the cheating is detected
b. the lower is the possibility of detection
c. the less likely is the collapse of the entire agreement as a result of cheating
d. the greater is the additional profit from charging a lower price than the other firms
e. the higher is the chance of taking customers away from competitors by charging a lower price
A
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Assuming initially that the required reserve ratio = 10%, the currency-deposit ratio = 40%, and the excess reserve ratio = 0, an increase in the required reserve ratio to 15% causes the M1 money multiplier to ________, everything else held constant
A) increase from 2.55 to 2.8 B) decrease from 2.8 to 2.55 C) increase from 1.82 to 2 D) decrease from 2 to 1.82
What was the approximate value of the U.S. current account balance in 2011?
A) +$10 billion B) +$79 billion C) -$380 billion D) -$475 billion