A Cartel Is

question 29

Multiple Choice

A cartel is

• A) a form of covert collusion.
• B) legal in the United States.
• C) always successful in raising profits.
• D) a formal agreement among firms to collude.

---

Definitions:

Gross Salary

The total earnings of an employee before any deductions like taxes and retirement contributions.

Accrued Benefits

Benefits earned or accumulated but not yet paid to employees or policyholders.

Employee Benefits Expense

Costs incurred by employers to provide benefits to employees, such as health insurance, pensions, and paid leave, beyond regular wages or salaries.

FICA Tax

Federal insurance contributions tax; a U.S. federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.