In the second quarter (three-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined. We can conclude that:
A. nominal income declined by more than personal income.
B. the price level rose by more than nominal GDP.
C. real wages declined by more than real GDP.
D. the price level fell by more than real GDP.
B. the price level rose by more than nominal GDP.
Economics
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One reason markets may fail to provide the optimal quantity of public goods is the problem of
A) determining what the public wants. B) nontariff barriers. C) nondiscrimination. D) free riders. E) economic integration.
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Price discrimination that substantially lessens competition is prohibited by the Clayton Act
a. True b. False
Economics