A potential cause of competitive market failure is symmetric information.

The Phillips curve relationship can also be seen indirectly from the AD/AS model

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

A measure that allows us to compare the prices of consumer goods and services in the year 2000 that a household typically purchases to the prices of those goods and services the household purchased in the base year 1997 is

a. the GDP deflator b. the consumer price index c. the price level d. inflation e. the base measure