An overall fall in prices in the economy is called:
A. inflation.
B. deflation.
C. core inflation.
D. core deflation.
B. deflation.
Economics
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A conspiracy among firms to fix prices was outlawed by the Sherman Antitrust Act
a. True b. False Indicate whether the statement is true or false
Economics
A price floor is the minimum price that consumers have to pay for a particular product
a. True b. False Indicate whether the statement is true or false
Economics
Most economists' disagreements are a result of:
A) factual considerations. B) positive economics. C) the scientific method. D) normative considerations.
Economics
The cross-price elasticity of demand between telephones and ramen noodles is most likely:
A. positive. B. negative. C. zero. D. greater than one.
Economics