The use of government spending and taxation to make changes in the level of national income is known as fiscal policy
Indicate whether the statement is true or false
T
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Effective price discrimination will enable a perfectly competitive firm to earn positive economic profits in both the short run and the long run
Indicate whether the statement is true or false
Which of the following is NOT an antitrust law?
A) the Robinson-Patman Act B) the Smoot-Hawley Act C) the FTC Act D) the Sherman Act
Compared to the perfectly competitive outcome, monopolistically competitive markets will result in:
a. a wider variety of products and higher prices. b. less product variety and higher prices. c. a wider variety of products and lower prices. d. less product variety and lower prices.
If the value of nominal GDP of an economy is 1.3 times the value of its real GDP, then the value of the GDP deflator in the economy will be 130
a. True b. False Indicate whether the statement is true or false