Excess capacity characterizes firms in monopolistically competitive markets, even in situations of long-run equilibrium
a. True
b. False
Indicate whether the statement is true or false
True
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The consumer price index for the current year measures the cost of a standard basket in the ________ year relative to the cost of the same basket in the ________ year.
A. current; current B. base; current C. base; index D. current; base
Expansionary fiscal policy is likely to lead a nation's currency to depreciate
Indicate whether the statement is true or false
The International Brotherhood of Electricians is an example of a(n)
a. agency union b. industrial union c. skilled union d. craft union e. federated union
Which of the following did NOT happen during the 2008-09 financial crisis?
A. Deposit insurance was extended to all accounts. B. The Fed quickly raised interest rates to stop the flow of easy credit. C. The Fed became the majority owner of the insurance company AIG. D. The U.S. Treasury guaranteed trillions of dollars in money market funds.