Using free public space means that sidewalk vendors earn long-run economic profits
a. True
b. False
B
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When two variables repeatedly change at the same time, there must be a causal relationship between them
a. True b. False Indicate whether the statement is true or false
The consumer price index (CPI) excludes all of the following goods and services except one. Which type of good is included in the CPI?
a. Raw materials b. Imported goods purchased by consumers c. Machinery purchased by firms d. Goods purchased by the government e. Intermediate goods
A monopolist’s demand curve is which of the following?
a. Perfectly horizontal at the market price b. Smaller than the market demand curve c. The same as the market demand curve d. Larger than the market demand curve
Stagflation" refers to
A. a simultaneous increase in output and the price level. B. a simultaneous reduction in output and the price level. C. an increase in the price level accompanied by decreases or leveling off in real output and employment. D. a decline in the price level accompanied by increases in real output and employment.