When the economy is in an inflationary gap, the labor market is experiencing a _____________. In a self-regulating economy, wage rates will then ___________ and the ______________ curve will shift __________________

Mercantilism followed feudalism. Unlike feudalism, mercantilism did not support any form of a strong central government or system of nation states

Indicate whether the statement is true or false

In perfect price discrimination, which of the following are reduced to zero?

a. Consumer surplus and producer surplus b. Producer surplus and deadweight loss c. Consumer surplus and deadweight loss d. Producer surplus and total welfare