Economists may hold many different views about the economy but on this they all agree: That price is always lower in a perfectly competitive market than in a monopoly market
Indicate whether the statement is true or false
F
You might also like to view...
Which of the following transactions represents the purchase of a final good or service?
A) General Motors purchases tires from Goodyear to install on its new Chevy Suburbans. B) Aunt Matilda buys a new convection oven for her condo in Boca Raton. C) Dunkin' Donuts purchases coffee beans. D) Tiffany's buys platinum wire to use in the production of its necklaces.
After a shift from AD0 to AD1, which of the following patterns of adjustment is consistent with the Lucas model?
A) A to B to E B) A to F to E C) A to C to E D) A to C to A
Real GDP, as opposed to money (nominal) GDP, has been adjusted for changes in the general level of prices
a. True b. False Indicate whether the statement is true or false
Other things the same, a fall in an economy's overall level of prices tends to
a. raise both the quantity demanded and supplied of goods and services. b. raise the quantity demanded of goods and services, but lower the quantity supplied. c. lower the quantity demanded of goods and services, but raise the quantity supplied. d. lower both the quantity demanded and the quantity supplied of goods and services.