Aggregate measures are
A) anything to do with economics.
B) a total measure of a variable in the economy.
C) used only by policymakers but not by firms.
D) determined by the government.
Answer: B
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According to the misperceptions theory, when the price level falls below the expected price level
A) the economy's SRAS curve shifts up. B) the economy moves along its AD curve. C) the economy moves along its LRAS curve. D) the economy moves along its SRAS curve.
This agency develops and enforces environmental standards for air, water, toxic waste, and noise
A) Environmental Protection Agency B) Consumer Product Safety Commission C) Equal Employment Opportunity Commission D) Occupational Safety and Health Administration
Product differentiation makes the demand for a monopolistically competitive firm's product:
a. perfectly elastic. b. more elastic than for a monopoly. c. more inelastic than for a monopoly. d. perfectly inelastic.
Which of the following is an amendment that strengthened the Sherman Antitrust Act?
a. Celler Kefauver Act. b. Clayton Act. c. Robinson-Patman Act. d. Tyler Act.