A Cartel Is an Agreement Among Firms to Divide Output

question 20

True/False

A cartel is an agreement among firms to divide output of a product among members.

---

Definitions:

Lobbying Disclosure Act

U.S. legislation that requires disclosure of lobbying activities and expenditures to foster transparency in government lobbying efforts.

Federal Level

Pertains to the national level of government as opposed to state or local levels, dealing with national policies and governance.

Legislator

An elected official who is involved in the process of making or enacting laws.

Persuade

The action of convincing someone to do or believe something through reasoning or the use of temptation.