The income-expenditure model assumes that the aggregate supply curve is horizontal at a given price level
Indicate whether the statement is true or false
TRUE
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The core personal consumption expenditures price index excludes
A) food and energy prices. B) energy and housing prices. C) food and housing prices. D) housing and health care prices.
The contestable market theory best applies to
a. pure monopoly. b. oligopoly. c. monopolistic competition. d. perfect competition.
Externalities are fundamentally the result of
a. the absence of competition in a market. b. the lack of well-defined or enforced property rights. c. poor information on the part of consumers. d. the presence of significant comparative advantages in production.
In some years government receives less in Social Security taxes than it pays out in Social Security benefits, in which case it makes up the difference by drawing from its trust fund
Indicate whether the statement is true or false