Suppose that the price of chicken rises sharply compared to the price of turkey. In response, consumers buy more turkey and less chicken than they did in the CPI base year. In this situation the CPI will tend to ________ inflation as a result of ________ bias.

In the short run, a supply shock that shifts the short-run aggregate supply curve leftward raises the price level and decreases real GDP

Indicate whether the statement is true or false

Under the merger guidelines written by the DOJ and FTC, a merger may not be challenged if:

A. there is an emergence of new technology. B. there is significant foreign competition. C. the firms involved have monetary problems. D. All of the statements associated with this question are correct.