A general-equilibrium analysis of a price change in the corn chip market would include an investigation of the impacts in

Which of the following is NOT one of the factors your text identifies that could affect the size of the multiplier?

A) What sector of the economy receives the initial increase in spending B) How the spending is financed C) Whether the economy is in recession or at full employment D) Whether the economy is in autarky equilibrium

The likelihood of a cartel being successful is greater when:

A. firms are producing a differentiated, rather than a homogeneous, product. B. cost and demand curves of various participants are very similar. C. the number of firms involved is relatively large. D. the economy is in the recession phase of the business cycle.