Question

1-The spending multiplier is used in determining the economic impact on a local economy.

a-True

b-False

2-A change in the price of hamburgers will change the supply of hot dogs.

a- True

b- False

3-Tacit cooperation is a concerted action by rival firms that raise profits of both without direct communication or collusion.

A- True

B- False

4-What company did fill Mickelson get investigated for in regards to insider trading?

	A.	Amazon
	B.	Microsoft
	C.	Apple
	D.	Dean Foods

5-If price rises, what happens to demand for a product?

	A.	It increases.
	B.	It decreases.
	C.	It does not change.
	D.	Uncertain-economic theory has no answer to this question

Answer 1

1) a - True
Money spent in a local economy has a multiplied effect on economic output.
2) a - True
When the price of hamburgers increase, there will be an increase in demand for
hot dogs. The increase in demand for hot dogs will result in an increase in the
supply of hot dogs.
3) a - True
Tacit collusion occurs when firms take actions that are likely to minimize a response from another firm.
Tacit cooperation is a concerted action by rival firms that raise profits of both without direct communication or collusion.
4) D - Dean foods.
5) B - it decreases.
When price of a product rises the demand for that product decreases.