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Author Question: The main sources of cost-push inflation are increases in A) the money wage rate and the price of ... (Read 183 times)

lb_gilbert

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on: Jun 29, 2018
The main sources of cost-push inflation are increases in
 
  A) the money wage rate and the price of raw materials.
  B) the real wage rate and the price of raw materials.
  C) the money wage rate and aggregate demand.
  D) the quantity of money and the real wage rate.
  E) government expenditure and the quantity of money.

Question 2

What is a cartel?
 
  What will be an ideal response?


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macagnavarro

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A cartel is a group of firms acting together to limit output, raise price and increase economic profit. Cartels are illegal in the United States. Cartels operate in a market structure with oligopolies. If firms can stick to the cartel agreement, the firms can earn an economic profit. However, cartels tend to break down because firms are tempted to cheat on their cartel partners and increase their own profit at the expense of their partners.


lb_gilbert

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Reply #2 on: Jun 29, 2018
Correct answers!


macagnavarro

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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