What is the price level?
What will be an ideal response?
The price level is the average level of prices.
You might also like to view...
Loud music from a neighbor's party is
A) a negative externality whether or not you like it. B) a positive externality whether or not you like it. C) a positive externality if you like the music, and a negative externality if you don't. D) a negative externality if you like the music, and a positive externality if you don't. E) not an externality.
Which of the following is a possible reason for governments to regulate business operations?
a. To increase monopoly profits b. To reduce the amount of information consumers have about a product c. To increase negative externalities d. To promote competitive behavior e. To decrease positive externalities
Which of the following countries went through a financial crisis in 1997?
a. Russia b. Canada c. Italy d. India e. Korea
Economists assume that business firms attempt to maximize their profits
a. True b. False Indicate whether the statement is true or false