Demand-pull inflation is caused by:
a. an increase in aggregate demand.
b. a decrease in aggregate demand.
c. an increase in aggregate supply.
d. a decrease in aggregate supply.
a
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A 1990 study of the market for collectable baseball cards suggested
a. there was no evidence of price discrimination on the basis of player position (hitter versus pitcher). b. markets in which the product price is low are not typically characterized by consumer-driven race discrimination. c. cards for white players (both hitters and pitchers) were 10 to 13 percent higher than those for comparable black players. d. cards for black players (both hitters and pitchers) were 10 to 13 percent higher than those for comparable white players.
In the United States, consumers, businesses, governments, and foreigners participate in both the product and factor markets.
Answer the following statement true (T) or false (F)