We observe a market where the price has risen and the quantity being sold has declined. This could be caused by a(n):

Each firm in a cartel has an incentive to chisel because market price exceeds:

a. marginal cost. b. average cost. c. average variable cost. d. average fixed cost.

Suppose the multiplier effect for Japan is 0.8 for any $1 billion change in U.S. government purchases. Therefore, Japanese real GDP will rise by $8 billion when U.S. government spending rises by $10 billion

a. True b. False Indicate whether the statement is true or false