Two years ago, the GDP deflator for Old York was 300, and today it is 330.75. Based on this information the annual average inflation rate for the two years was

A policy where the Federal Reserve focuses only on inflation is called monetarizing inflation

Indicate whether the statement is true or false

Refer to Scenario 13.16. If the firms must choose their prices simultaneously,

A) both firms will buy gelato. B) both firms will buy yogurt. C) two pure strategy equilibria exist, one in which Gooi alone buys a gelato machine and one in which Ici alone buys a gelato machine. D) the game has no pure strategy equilibrium. E) the game has no mixed strategy equilibrium.