Nominal GDP measures the value of all final goods and services at base-year prices
Indicate whether the statement is true or false
FALSE
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Which of the following helps in preventing firms in the U.S. from forming collusive agreements?
A) The low demand faced by colluding firms B) The antitrust policy of the government C) The high rate of corporate income taxes D) The low profit earned by firms after colluding
Natural monopolies have U-shaped cost curves.
A. True B. False C. Uncertain
Annual expenditures by the federal government exhibited an upward trend, rising from $3 billion in 1930 to more than $1 trillion in 2010
a. True b. False Indicate whether the statement is true or false
The relationship between the average price of aggregate output and the quantity of aggregate output demanded is:
a. aggregate price. b. aggregate demand. c. aggregate investment. d. aggregate consumption.