The Utah Pie case is an example of a violation of the Robinson-Patman Act
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in the dollar price of the British pound will ________.
A. cause Britain's terms of trade with the United States to deteriorate B. leave the pound price of dollars unchanged C. decrease the pound price of dollars D. increase the pound price of dollars
The primary difference between a market-day supply curve and a short-run supply curve is the
a. amount of time that suppliers have to respond to a price change b. number of suppliers that can enter the market c. time available to people to align their demands to supply d. type of good being produced e. lower price that increases quantity supplied
As long as the aggregate supply curve is upward sloping, an increase in aggregate demand will increase
a. real wealth. b. price levels. c. unemployment. d. net exports.
Price changes from year to year are not proportional, and consumers respond to these changes by altering their spending patterns. The problem this creates for inflation calculations is called
a. deflation. b. inflation. c. unmeasured quality change. d. substitution bias.