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

Economics

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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.

Economics

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

Economics

The contestable market theory best applies to

a. pure monopoly. b. oligopoly. c. monopolistic competition. d. perfect competition.

Economics

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.

Economics