Stagflation is a term that usually describes an economy experiencing:

Which of the following is true of price leadership?

a. Price leadership requires that firms collude. b. Price leadership will not exist when there is a dominant firm. c. Price leadership may come into being as firms recognize the benefits of not engaging in competitive pricing. d. Price leadership is most likely to arise when no firm has a history of making accurate evaluations of market conditions. e. Price leadership is never used in the real world.

If by international treaty the ratio of the price of services to the price of goods was held at 1.5, then

Suppose Canada can produce either 120 units of goods, 80 units of services, or any linear combination thereof. Mexico can produce 90 units of goods, 50 units of services, or any linear combination thereof. a) neither country would benefit from trade b) both countries will benefit from trade c) only Canada would benefit from trade; Mexico would lose d) only Mexico would benefit from trade; Canada would lose e) Mexico would benefit from trade; Canada would neither gain nor lose