If the consumer price index (CPI) is 160 one year and 175 the next, the annual rate of inflation as measured by the CPI is approximately _____

Union members earn about the same wage level as nonunion members in the same industry

a. True b. False Indicate whether the statement is true or false

As a group, oligopolists earn the highest profit when they

a. achieve a Nash equilibrium. b. produce a total quantity of output that falls short of the Nash-equilibrium total quantity. c. produce a total quantity of output that exceeds the Nash-equilibrium total quantity. d. charge a price that falls short of the Nash-equilibrium price.