One way to bring the inflation rate down is
a. to reduce excessive competition
b. to increase government spending
c. to aggregate across markets
d. for the government to purposely cause a severe recession
e. to reduce taxes
D
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What are price controls? How do they affect a market?
What will be an ideal response?
"A decrease in the price of digital cameras will decrease the demand for camera film." This statement is an example of a positive economic statement
Indicate whether the statement is true or false
Economic growth could make a country worse off
Indicate whether the statement is true or false
A firm charged with monopolizing a market is less likely to be convicted if:
A. the court accepts a broad definition of the market. B. the court accepts a narrow definition of the market. C. it has gained its monopoly through abusive means. D. it sells its product to other firms, rather than directly to consumers.