An organization of sellers designed to coordinate their supply decisions to maximize joint profits is called a:

The intersection of the demand curve and the marginal-cost curve is equivalent to the socially-optimal level of output

a. true b. false

The Fed engages in open market operations and sells government securities. The result is

A) lower interest rates. B) higher interest rates. C) interest rates remain unchanged since there is no reason to think bond prices changed. D) uncertain since more information is needed.