Author Question: A recession shows A) supply always equals demand. B) supply never equals demand. C) thousands ... (Read 49 times)

bb · **on:** Jun 29, 2018

A recession shows

A) supply always equals demand.
B) supply never equals demand.
C) thousands of businesspeople have misread market signals.
D) real GDP must be lower than nominal GDP.
E) not enough households are using their credit cards.

Question 2

Agreements among competing sellers to maintain prices and share markets

A) are usually unenforceable in court and illegal under many state laws and under federal law where applicable.
B) are very common because they lead to economies of scale and hence greater efficiency.
C) enable all sellers to cover their sunk costs but do not guarantee that any seller will be able to cover marginal cost.
D) usually result in greater total output but also in higher prices to consumers.