A cartel is a group of sellers of a single product who have joined together in order to enjoy the advantages of perfect competition

When describing the IMF broad country classification, the most accurate statement is that

A) most of the nations in Western Europe are considered emerging market economies. B) the emerging market economies are countries that were, until the early 1990s, part of the Soviet Union or its satellites. C) about 50 percent of the world's population live in the advanced economies and the other 50 percent live in the emerging market and developing economies. D) most of the world's population lives in advanced economies. E) the category with the greatest number of countries is the advanced economies.

A rise in interest rates leads to:

a. an increase in the PDV of profits from owning a machine. b. a decrease in the PDV of profits from owning a machine. c. offsetting the effects on the costs and benefits of owning a machine. d. no effect on either the costs or benefits of owning a machine.