Cost-push inflation is
A) inflation caused by decreases in aggregate supply that generate an even larger decrease in aggregate demand.
B) inflation caused by increases in aggregate demand that are not matched by increases in aggregate supply.
C) inflation caused by increases in aggregate demand that generate an even larger increase in aggregate supply.
D) inflation caused by decreases in aggregate supply that are not matched by decreases in aggregate demand.
D
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The price of pie increases. Some people who purchased pie before the price increase no longer purchase pie. This is
A) a positive externality. B) a negative externality. C) a positive externality for some consumers and a negative externality for others. D) not an externality.
Society benefits from monopolistic competition because the firms are allocatively efficient
a. True b. False Indicate whether the statement is true or false