It Is Easier to Maintain a Cartel in a Market

question 33

Multiple Choice

It is easier to maintain a cartel in a market for a(n) ________ than in a market for a(n) ________.

• A) intermediate good; final good
• B) final good; intermediate good
• C) natural resource; manufactured good
• D) manufactured good; natural resource

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Definitions:

Policy Rule

A guideline or protocol for economic policy that stipulates specific actions or responses to changes in economic indicators.

Monetarists' Prescription

Recommendations or policies suggested by monetarists, focusing on controlling the money supply to manage economic stability and inflation.

Monetary Rule

The money supply may grow at a specified annual percentage rate, generally about 3–4 percent.

Money Supply

The total quantity of money available in the economy at a specific time, including cash, coins, and balances held in checking and savings accounts.