What is the price level?
What will be an ideal response?
The price level is the average level of prices.
Economics
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The official poverty level in the United States
a. has been the same since 1980 b. is the same as in other developed countries because it is based on a United Nations definition c. is defined by the United Nations d. is defined by the Department of Agriculture and based on food costs e. has been adjusted for inflation but not for changes in family size
Economics
In perfect competition, firms are price makers
a. True b. False Indicate whether the statement is true or false
Economics