Supply-side inflation will increase the price level and reduce real GDP
a. True
b. False
Indicate whether the statement is true or false
True
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When we describe stock prices as following a random walk, we mean that future changes in stock prices are
A) unpredictable. B) increasing. C) decreasing. D) constant.
Just over 10% of workers age 25 years or older earned below $7 per hour in 2005
Indicate whether the statement is true or false
When the price of labor increases, the substitution effect will ________ the quantity of labor demanded and the output effect will ________ it
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Holey Doughnuts and Clair's Eclairs want to merge. Each has 2 percent of the local pastry market. It is most likely that
a. the Department of Justice would challenge the merger but the Federal Trade Commission would not b. the Federal Trade Commission would challenge the merger but the Department of Justice would not c. the merger will go unchallenged because it will not tend to reduce competition d. the government will successfully challenge the merger because it is a horizontal merger e. the government will successfully challenge the merger because it is a vertical merger