Which of the following is not correct?
a. The inflation rate is measured as the percentage change in a price index.
b. For the last 40 or so years, U.S. inflation hasn't shown much variation from its average rate of about 2 percent.
c. During the 19th century there were long periods of falling prices in the U.S.
d. Some economists argue that the costs of moderate inflation are not nearly as large as the general public believes.
b
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Which of the following is not correct?
a. Antitrust laws may prevent mergers that would actually raise social welfare. b. Public ownership is the most common public policy toward monopolies in the United States. c. Regulation is a common strategy for a natural monopoly. d. Sometimes the best public policy toward a monopoly may be to do nothing.
The economic impact of automatic stabilizers during recessionary periods is to
A. increase taxes. B. have no impact on the recession. C. moderate the recession. D. make the recession worse.