Which economist made the following statement: "Every major contraction in the U.S. economy has either been created or greatly exacerbated by monetary instability. Every major inflation has been caused by monetary expansion."

A price index can be computed by

A) dividing a nominal variable by its real counterpart. B) dividing a real variable by its real counterpart. C) subtracting the nominal variable from its real counterpart. D) subtracting the real variable from its nominal counterpart.

A firm that practices group price discrimination will set the lower price in the market that has the most elastic demand

Indicate whether the statement is true or false