Testing a theory by comparing the theory's implications with data obtained in the real world is called

Refer to Table 26-4. Suppose the following table illustrates the values of real and potential GDP and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary

If the Fed wants to keep real GDP at its potential level in 2017, should the Fed use a contractionary or expansionary policy? How should it conduct open market operations to achieve its goal?

In practice, oligopolistic markets are:

A. fairly common. B. very rare. C. forbidden by the government. D. usually protected by the government.