Government involvement in a market may generate more inefficiency than it cures.

In the income-expenditure model, for each price level there is a different equilibrium output level. If we plot one such equilibrium output and price combination, we obtain

A) a point on the aggregate demand curve. B) the slope of the planned expenditures line. C) the slope of the entire aggregate demand curve. D) the aggregate demand curve.

The markups restaurants apply to various items are heavily influenced by the price elasticity of the demand for each item

Indicate whether the statement is true or false